A sign is posted in front of PayPal headquarters in San Jose, Calif., on Feb. 2, 2022. (Justin Sullivan/Getty Images)
Baird analyst Colin Sebastian lowered the price target on PayPal Holdings Inc. to $175 from $205 (51.3 percent upside) and kept an Outperform rating on the shares.
He believed steady or even accelerating trends concerning merchant integration with digital wallets were a crucial medium and long-term positive for PayPal.
However, Sebastian remained cautious near term on macro headwinds, slower growth, and competition. He still viewed PayPal as a secular winner.
PayPal reported quarterly earnings of $1.11 per share, missing the consensus of $1.12. The Q4 sales of $6.90 billion beat the consensus of $6.86 billion.
Recently, Goldman Sachs initiated coverage on PayPal, citing product initiatives and secular tailwinds from the digitization of payments, e-commerce growth, and international expansion.
By Anusuya Lahiri
© 2022 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.
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