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However, Bernstein has downgraded the stock from ‘Outperform’ to ‘Market Perform’ and lowered the price target from $260 to $220.
The stock has lost 28.7% in price over the past month and 32.5% over the past three months to close Friday’s trading session at $193.61. In addition, it is currently trading 37.6% below its 52-week high of $310.16, which it hit on July 26, 2021. Furthermore, intensifying competition in the digital payment market poses a severe risk to the company’s market position. So, PYPL’s near-term prospects look uncertain.
