Prediction: 2024 Will Be PayPal's Rebound Year
Being a PayPal (NASDAQ: PYPL) investor has been painful the past few years. If you initiated a position in the summer of 2017, you saw the stock nearly gain 500%, only to crash back down to the same levels at which you bought it. However, back then, PayPal's quarterly total payment volume was only $106 billion versus the $388 billion it processes in each quarter now.
So, how can a stock trade at the same levels despite incredible business growth? It all concerns sentiment and expectations, and PayPal's are incredibly low. However, I think this could all turn around in 2024, making it a great year to own PayPal stock.
In 2017, PayPal was still a strong pick for a company that could capture the growing mobile payments market. Now, it has clearly lost ground to apps the phone creators champion.
Source Fool.com
Paypal Holdings Inc Stock
Currently there is a rather positive sentiment for Paypal Holdings Inc with 31 Buy predictions and 14 Sell predictions.
With a target price of 56 € there is a slightly positive potential of 5.11% for Paypal Holdings Inc compared to the current price of 53.28 €.
