Looking for a Bargain Stock? PayPal Stock Could Be Due for a Rally
As the interest in AI (artificial intelligence) ramps up, old trends like cybersecurity, fintech, or the metaverse take a backseat unless they also have AI aspirations. With investors shifting their capital from one idea to the next, a few bargains are starting to appear.
PayPal (NASDAQ: PYPL) is one of them, as the company is still steadily growing and rapidly increasing its profitability. Still, the stock has received no love and is down more than 10% in 2023, while many other tech stocks are up over 20%. So is PayPal due for a rally? Or is something else going on here? Let's find out.
PayPal has been around for a long time and was one of the primary digital payment processors as the internet hit the mainstream. Now, it has been pushed aside in favor of companies creating their own payment-processing platforms and consumers using digital wallets native to their cellphone operating systems. Furthermore, PayPal lost its exclusive payment processing partnership with eBay, which has affected PayPal's payment streams.
Source Fool.com
Paypal Holdings Inc Stock
The stock is one of the favorites of our community with 58 Buy predictions and 2 Sell predictions.
As a result the target price of 74 € shows a positive potential of 35.9% compared to the current price of 54.45 € for Paypal Holdings Inc.
