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
Currently there is a rather positive sentiment for Paypal Holdings Inc with 44 Buy predictions and 9 Sell predictions.
With a target price of 77 € there is a hugely positive potential of 55.41% for Paypal Holdings Inc compared to the current price of 49.55 €.
