Wall Street Analysis on PayPal Stock Price Following 52-Week High

Thursday, 22 August 2024, 13:17

Wall Street predicts PayPal's stock price as it hits a 52-week high after partnering with Adyen for Fastlane. Analysts offer a bullish outlook.
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Wall Street Analysis on PayPal Stock Price Following 52-Week High

Wall Street Insights on PayPal Stock

Wall Street predicts PayPal's stock price after it recently achieved a 52-week high following a partnership with Dutch payments firm Adyen for the Fastlane checkout tool. This collaboration is expected to enhance PayPal's offerings for enterprise and marketplace customers in the U.S., leading to a bullish sentiment among analysts.

Current Stock Performance

As of August 20, PayPal (NYSE: PYPL) reached its highest closing price in over a year. The average 12-month forecast from 31 analysts stands at $74.92, indicating a 4.84% potential increase from its current price of $71.46. Analysts have set targets ranging from $65 to $90.

Analyst Recommendations

With a 'moderate buy' rating, analysts express optimism, with 17 recommending a ‘hold’, 14 a ‘buy’, and none opting for 'sell'. Mizuho's Dan Dolev retains an ‘outperform’ rating, suggesting a price target of $90.

Long-term Potential

The Fastlane product is viewed as instrumental in boosting adoption rates among PayPal’s user base. Analysts estimate a potential market of $3 trillion for Fastlane, with a realistically addressable figure of $1.43 trillion.

Conclusion

While the forecast remains optimistic, investors are reminded to conduct their own research and stay updated with market dynamics.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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