Why PayPal's Stock Price Sank Even Lower Today
PayPal Holdings (NASDAQ: PYPL) saw its stock price plummet about 4.5% on Monday in early trading, dropping to $70.18 per share as of 10:01 a.m. ET. The stock rallied back a bit in the afternoon and was down around 3.6% as of 3:30 p.m. at around $70.76 per share.
The stock price dropped after an analyst lowered its price target. PayPal remains down 62% year to date.
On Monday morning, analysts at Keefe, Bruyette, & Woods lowered their price target on PayPal from $108 to $98, sparking the sell-off. With the new price target, PayPal would still see growth from its current share price of about 38% over the next year.
Source Fool.com
