PayPal price target lowered to $100 from $140 at Deutsche Bank

Deutsche Bank analyst Bryan Keane lowered the firm’s price target on PayPal to $100 from $140 and keeps a Buy rating on the shares. The analyst cut the company’s fiscal 2023 revenue growth expectations from 10% constant currency to 7% but expects it will successfully pull operating margin levers to drive earnings growth of at least 15% this year. However, the most important debate which will drive the multiple going forward is if PayPal is losing market share, the analyst tells investors in a research note. The firm says it will continue to monitor macro headwinds facing the overall e-commerce market along with share shifts.