PYPL - PayPal: Rewriting The Rules In A Transitional Year
2024-05-19 09:00:00 ET
Summary
- PYPL is trying to bounce back after three years of underperformance, and its valuation hitting rock bottom all-time lows after 80% sell-off.
- PayPal's first-quarter results show a 9% revenue increase and a 14% rise in Total Payment Volume, driven by enhanced features in Venmo and strategic market expansions.
- Bolstered by Fibonacci retracements and a positive Volume Price Trend, PayPal's stock is projected to reach $79 by the end of 2024, balancing bullish indicators with existing market volatility.
- In 2024, PayPal targets $5 billion in FCF and buybacks, bolstering shareholder value supporting our $90 DCF valuation.
Investment Thesis
Our investment thesis for PayPal Holdings, Inc. (PYPL) remains robust, maintaining our strong buy rating for the stock from our previous coverage , with a medium-term target price of $90 , supported by strategic shifts in the company's product mix that responds to market dynamics and competitive pressures. Technically, PayPal's stock is projected to reach $79 by 2024 end , supported by bullish technical indicators like the Volume Price Trend and Fibonacci retracements, despite current short-term consolidations and potential downside risks....
PayPal: Rewriting The Rules In A Transitional Year