Can PayPal Stock Hit $70 by the End of 2023?

To say that PayPal Holdings (NASDAQ: PYPL) stock has disappointed investors the past two years would be a major understatement. At recent prices, shares of the leader in electronic payments are more than 80% below their all-time high. And they trade at a dirt cheap trailing price-to-earnings ratio around 16.

After that huge slide, I see three potential catalysts coming up this year that could push the stock back up to $70, which would be a roughly 20% gain. To be clear, nobody can predict where stocks will move in the short term -- that's why we preach at least a three-year holding period. But long-term investing means focusing on the business, and that's what this exercise is all about. Let's take a closer look at what investors should know before deciding to add the fintech stock to their portfolios.

The most obvious event that could push PayPal's stock price up in no time is if the company reports stellar financial results for the three-month period that ends Sept. 30. These quarterly reports, which reveal key metrics that indicate the direction a business is heading in, can have a huge influence on shareholder sentiment.

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Source Fool.com