PayPal Holdings Inc. (PYPL) stock increased by more than 22 percent last week. The firm did not give any news, but Wall Street analysts’ remarks might be one of the causes of growth.
Analysts at Deutsche Bank confirmed their buy recommendation for PayPal Holdings (PYPL) shares, believing that the company’s business is in a favorable environment. Analysts cite PayPal’s ambition to join the Chinese market as one of the favorable aspects.
Furthermore, PYPL continues to extend its ecosystem by introducing new services for buyers and sellers, which may result in an increase in user numbers. With a target price of $200, nearly double the current price, Deutsche Bank sees tremendous upside potential for PYPL shares.
PayPal Holdings (PYPL) prospects are likewise viewed favorably by analysts at MoffettNathanson, who have assigned the stock a Buy rating and a $190 target price. Experts forecast growth in the Chinese market due to the development of new services on the platform and the expansion of e-commerce in the United States.
However, Wall Street is not unanimous in its assessment. Bank of America downgraded PayPal Holdings (PYPL) shares from “buy” to “neutral” last week, and dropped its price objective from $175 to $107. The bank, on the other hand, feels that the current scenario is not very advantageous for PayPal Holdings and that the influence of existing positive trends is overstated.
Analysts have reduced their projections for the total number of payments on the PYPL platform in 2022 and 2023 to back up their claims. According to Bank of America, the recent hike in interest rates might have a negative impact on PayPal Holdings due to a projected fall in customer demand.
Recent Trading Performance
PayPal Holdings Inc. (PYPL) share prices have increased by 22.99% over the past week, but are down -37.08% in the last quarter. Going further back, the stock’s price has tanked -57.02% over the last 6 months but is down -37.02% in year-to-date trading.
On March 18, PYPL stock traded at $118.77, with a gain of 5.89%. The firm has a market cap of $138.367 billion.