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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why Baird Slashed PayPal's Price Target By 15%

PayPal Baird Colin Sebastian PYPL Goldman Sachs Nasdaq PayPal Holdings Inc
  • Baird analyst Colin Sebastian lowered the price target on PayPal Holdings Inc (NASDAQ:PYPL) to $175 from $205 (51.3% 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.
  • Price Action: PYPL shares traded higher by 0.62% at $116.37 in the premarket on the last check Friday.
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