Mizuho analyst Dan Dolev says assessing PayPal’s (PYPL) share of outgoing web traffic across major U.S. merchants shows that trends may have begun to stabilize in recent months. This is particularly visible in mobile web traffic data, where PayPal is most vulnerable to Apple Pay (AAPL) checkout on the iPhone, Dolev tells investors in a research note. He believes share loss to Apple Pay has been "haunting the stock" in 2022. "While this is only one perspective, we believe it could help improve sentiment" on PayPal, contends Dolev. The analyst reiterates a Buy rating on the shares with a $105 price target.
Published first on TheFly
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