PayPal price target lowered to $80 from $95 at Monness Crespi

Monness Crespi lowered the firm’s price target on PayPal to $80 from $95 and keeps a Buy rating on the shares. PayPal delivered Q4 revenue, EBITDA and EPS ahead of the Street and firm’s forecasts, but calendar 2024 EPS guidance of $5.10 “proved to be well below consensus of $5.48” and the firm’s estimate of $5.79, the analyst tells investors. Though disappointed in the guidance, the firm remains positive on PayPal’s long-term prospects. However, fixes will take time, likely making it so rerating catalysts are more likely late 2024 of 2025 factors, the analyst added.