PYPL Plunges Further after Analyst Downgrade
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PYPL Plunges Further after Analyst Downgrade

Shares of PayPal Holdings (NASDAQ:PYPL) plunged today, which is attributed to yesterday’s earnings report and today’s analyst downgrade. Indeed, Timothy Chiodo of Credit Suisse changed his rating on the stock from Buy to Hold while assigning a price target of $85 per share. For reference, his previous price target was $100 per share.

Chiodo pointed to invoicing weakness as well as the ending of PayPal unbranded and PayPal Here as things that could continue impacting growth in the near term. Other unfavorable catalysts also include transaction margin pressures, an uncertain macroeconomic environment, higher competition, and management’s pending transition.

Overall, Wall Street analysts have a consensus price target of $115.28 on PYPL stock, implying over 72% upside potential, as indicated by the graphic above.

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