PYPL - PayPal's Competitive Pressures In Online Payments Are Increasing: Goldman Sachs | Benzinga
Goldman Sachs analyst Will Nance assumed PayPal Holdings (NASDAQ:PYPL) with a Neutral rating and a price target of $69.
PayPal shares are near their lowest level since 2017, as the market has increasingly become worried about PayPal's competitive positioning in online payment processing and increasing competition from mobile and web-based wallets, which compete with PayPal's branded checkout experience, Nance noted.
While the analyst’s base case is for PYPL branded to continue to lag overall e-commerce growth in the near term while digital wallets are growing closer to mid-teens, he noted the market has already reflected this ...