Paypal (NASDAQ:PYPL) stock has been upgraded by Barclays analyst Ramsey El-Assal with a $343 price target. The upgrade suggests an upside of 14.27% from the current trading price. The analyst is expecting a “modest upside” to Q2 estimates.
Furthermore, the analyst noted although indicators show e-commerce growth has declined, the industry “remained healthy” in Q2. El-Assal reaffirmed PayPal’s fundamentals are still strong.
Wallstreet is Bullish on PayPal stock
Wells Fargo analyst Timothy Willi also boosted the firms 12 month price target to $350 a share. The analyst noted that the firm is “confident in PayPal’s ability to drive attractive organic TPV and revenue growth through 2025” according to theFly. Furthermore, the analyst has affirmed PayPal can maintain elevated share gain of e-commerce retail sales through added customer experience.
In addition to the most recent price targets, Susquehanna analyst James Friedman also raised the firms target valuation to $360 a share. The boosted target also represents a healthy upside of 19.60%.
The analyst met with PYPL management and increased the firms valuation. The raise in valuation came after “announced pricing changes, Crypto engagement, and potential innovative wallet features” according to theFly.
The bottom line for PayPal stock
Overall, across the board of Wallstreet analysts majority hold a buy rating on PYPL stock. In particular, analysts are bullish on Paypal’s expansion across multiple fronts including the digital wallet. The average 12 month price target from coverage in July represents an upside of 18.1%. To see the full PayPal stock forecast and outlook, you can find our Paypal stock forecast below.
The information above is not financial advice. Youth Investment Group has no liability for personal financial interests or investment decisions. You should make your own investment decisions based upon your own research and what you believe is best for you.
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