Bernstein analyst finally likes PYPL after staying on sidelines for 3 years

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Bernstein analyst finally likes PYPL after staying on sidelines for 3 years

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is finally on track for positive momentum, according to Bernstein. Analyst Harshita Rawat upgraded shares to outperform, the first upgrade following a downgrade to market perform in 2021. She also raised her price target by $7 to $78, indicating 22% upside potential from Wednesday’s close. When Bernstein downgraded

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three years ago, the firm cited concerns about rising competition, structural changes in the e-commerce sector and weak ********** that was hurting the company’s ****** profit. Those fears materialized, with

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shares losing approximately 75% of their value since late July 2021. PYPL 5Y mountain

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shares over the last 5 years Now, Rawat is encouraged by improving ****** profit trends and product momentum under the company’s new management. “

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also presents strategic optionality with many waterfront properties on ecommerce/digital commerce,” Rawat wrote in a Wednesday note. He also said the stock’s valuation is attractive at current levels. To be sure, she warned some macro headwinds could hurt the stock, but she still forecasts a “greater likelihood of steady beats and raises over the coming quarter.”

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shares are up 8.3% in 2024, lagging the S & P 500’s 15.9% gain. Over the past 12 months, the stock is down more than 12%.

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#Bernstein #analyst #finally #likes #PYPL #staying #sidelines #years

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