Is a PayPal Turnaround on the Horizon?
PayPal (NASDAQ: PYPL), the digital payments giant that was spun off from eBay (NASDAQ: EBAY) a decade ago, was once an impressive growth stock. It started trading at $41.63 on its first day and soared 641% to a record high of $308.53 on July 23, 2021.
At the time, PayPal dazzled the market with its robust growth rates during the pandemic and ambitious expansion plans. The buying frenzy in meme and growth stocks -- fueled by low interest rates, social media buzz, and commission-free trades -- amplified those gains.
But as of this writing, PayPal's stock trades at about $78. The bulls retreated as its growth cooled, it missed its own long-term forecasts, and rising interest rates crushed its valuations. Should contrarian investors buy the stock today and expect it to bounce back in the near future?
Source Fool.com
Paypal Holdings Inc Stock
Our community is currently high on Paypal Holdings Inc with 47 Buy predictions and 8 Sell predictions.
As a result the target price of 81 € shows a positive potential of 37.4% compared to the current price of 58.95 € for Paypal Holdings Inc.
