PayPal Stock Expected To Gain an Aggressive Upgrade in 2023
The price of stocks of PayPal Holdings Inc. is rising as a result of a favorable note written by a Truist analyst in support of the transactions. Following the sell-off over the previous five months, Andrew Jeffrey suggested that investors purchase PayPal stock. About a 30% increase from here is represented by his revised price estimate of $95 per share.
A new CEO would be in an excellent position to build on Mr.Schulman’s achievements while engaging in more aggressive M&A, guiding the business into card acquisitions, increasing TAM, and accelerating revenue growth. PayPal and MetaMask teamed up in December to enable frictionless cryptocurrency purchases. According to Jeffrey, PayPal has approximately $6.0 billion in net cash, which is enough to sustain any possible operation and fintech stock repurchases.
The Truist analyst believes that there is practically no potential threat in the Street’s current sales expectations and anticipates that this multinational will earn more per share this year than predicted. Despite the macroeconomic issues now facing the industry, eCommerce will overtake current card usage.
The California-based corporation is scheduled to release its results for the most recent quarter next month. According to consensus, it will make 97 cents per share compared to 92 cents last year. The price of PayPal stock is down close to 30% from its high in mid-August.
Visit World Fintech News for the latest information and analysis on the financial sector and the fintech industry.