PayPal (NASDAQ:PYPL) stock was the most frequently-traded stock by U.S. politicians in the last 60 days, according to Smart Insider data. They seem to favor this stock, whether they are buying or selling.
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Investors should note that 2022 has been a tough year for this digital payment company. Its shares have declined by about 53% year-to-date, while it is down about 66% over the past year. Let’s see what’s in store for PYPL stock using TipRanks’ valuable datasets.
Is PYPL a Buy or Sell?
On TipRanks, PayPal stock commands a Strong Buy consensus rating based on 25 Buy and eight Hold recommendations. Meanwhile, PYPL’s average price target of $119.86 implies 35.1% upside potential.
What’s more, PYPL stock has a positive signal from hedge funds. According to TipRanks’ data, hedge fund managers bought 19.1M PayPal stock last quarter. The list of buyers included Bridgewater Associates’ Ray Dalio, who increased his holdings in PYPL stock.
While analysts and hedge fund managers are bullish about PYPL’s prospects, it has negative indicators from retail investors and insiders. TipRanks’ data shows that 1.5% of investors have lowered their exposure to PayPal stock in one month. Meanwhile, insiders sold PYPL stock worth $2.1M.
Overall, PayPal stock sports an Outperform Smart Score of nine out of 10 on TipRanks.
Bottom Line
PayPal stock came under pressure as macro headwinds and a slowdown in e-commerce growth remained a drag. However, its focus on driving engagement, retaining high-quality customers, and re-acceleration in e-commerce growth could support its long-term growth.
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