Prediction: 2024 Will Be PayPal's Rebound Year
Being a PayPal (NASDAQ: PYPL) investor has been painful the past few years. If you initiated a position in the summer of 2017, you saw the stock nearly gain 500%, only to crash back down to the same levels at which you bought it. However, back then, PayPal's quarterly total payment volume was only $106 billion versus the $388 billion it processes in each quarter now.
So, how can a stock trade at the same levels despite incredible business growth? It all concerns sentiment and expectations, and PayPal's are incredibly low. However, I think this could all turn around in 2024, making it a great year to own PayPal stock.
In 2017, PayPal was still a strong pick for a company that could capture the growing mobile payments market. Now, it has clearly lost ground to apps the phone creators champion.
Source Fool.com
Paypal Holdings Inc Stock
The stock is one of the favorites of our community with 64 Buy predictions and 4 Sell predictions.
As a result the target price of 75 € shows a positive potential of 21.67% compared to the current price of 61.64 € for Paypal Holdings Inc.
