Shares of the large payments firm PayPal (NASDAQ: PYPL) traded about 1.15% higher as of 3 p.m. ET after a Wall Street analyst said he thinks the stock has been oversold.

The harsh, rising interest-rate environment and the bleak economic outlook have crushed tech stocks this year, and PayPal has not been spared, with its stock down more than 56% this year.

Recently, the platform faced backlash after the company issued a revised acceptable-use policy that said it could fine users as much as $2,500 for spreading misinformation on the platform.

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Source Fool.com