From Financial Modeling Prep: 2024-10-10 15:14:00

PayPal (NASDAQ:PYPL) shares dropped over 3% today after Bernstein SocGen analysts downgraded the company to Market Perform with a price target of $80. The earlier upgrade in July was based on improved product momentum and gross profit growth, but analysts now see limited upside potential due to conflicting dynamics and competition.

Analysts are waiting for clearer signs on PayPal’s long-term prospects, including the impact of initiatives like rewards, Fastlane, Venmo monetization, and Ads. They also note potential risks to gross profit estimates due to exposure to interest rate fluctuations and uncertainties surrounding the core payment button’s future performance.



Read more at Financial Modeling Prep:: Jefferies Downgrades PayPal to Neutral, Shares Dro…