PayPal is reaching new heights with a 52-week high and analysts predict 10% earnings growth.

From Nasdaq: 2024-09-25 07:15:00

PayPal Holdings Inc. (NASDAQ: PYPL) is breaking new ground by reaching a 52-week high near $80 a share, outperforming competitors in the financial sector like Visa and Mastercard. Analysts predict a 10% growth in earnings per share next year, fueling a climb to $94 a share, with 21.2% upside potential.

PayPal’s latest quarterly earnings show an 8% increase in revenue and transaction margins, with total payment volume up by 11% to $416.8 billion. Despite a slight decline in active accounts, PayPal reported $1.4 billion in free cash flow and plans to allocate up to $5 billion for share buybacks.

Legal & General Group has increased their holdings of PayPal stock by 3.3%, totaling $501.2 million. With institutional investments totaling $4 billion over the past year, investors can expect continued growth and higher prices ahead. Management’s approval of an aggressive buyback program indicates confidence in the stock’s future performance.



Read more at Nasdaq:: PayPal Soars to New Heights: Why Analysts See More Upside