If you're reluctant to invest in PayPal (NASDAQ: PYPL ), that's understandable. It's difficult for PayPal to protect its market share in the crowded and highly competitive fintech space.
For the first time since the start of this year, half of analysts covering PayPal Holdings Inc. shares are in the bull camp.
This leading fintech company continues to grow total transactions and payment volume. It benefits from a significant network advantage, insulating it from competitive pressures.
Mesh, a U.S. fintech whose investors include PayPal Ventures, will provide customers of Italian digital asset wallet Conio access to several leading crypto exchanges, such as Binance or Coinbase, the two companies said on Monday.
RBC Capital analyst Daniel Perlin reiterated PayPal Holdings Inc PYPL with an Outperform and a $84 price target.
Fintech stocks have been languishing since the end of the post-Covid boom, and most fintech names have been trading at bargain-basement levels for the past two years. That said, I believe it makes sense to use this near-term weakness as an opportunity to buy some of the top fintech stocks for the long-haul.
InvestorPlace contributor David Moadel predicted in early June that PayPal (NASDAQ: PYPL ) stock, because of a combination of factors, should hit $90 in the next 12 months. I said in late March that it was time to buy PayPal stock given it was up 34% from its five-year low in October 2023.
PayPal Holdings remains a leading global fintech player and continues to benefit from the strong secular tailwinds behind its industry. While the stock price remains stagnant, PayPal's operational performance tells a very different story. The company continues to exhibit solid growth across its diverse range of payment businesses. PayPal is heavily undervalued with a 9.5x trailing P/FCF ratio, strong balance sheet, and forecasts for continued growth.
PayPal (NASDAQ: PYPL) stock price is falling apart as attempts to recover find substantial resistance. It has plunged to a low of $58.25, its lowest point since March 7th.
Paypal (PYPL) closed at $58.26 in the latest trading session, marking a -1.8% move from the prior day.
PayPal stock is down 50% over the past five years. Ouch! But the core business is growing, and new leadership is innovating.
If you're scouting for fintech stocks to buy, now is the right time to hop in. The fintech space is ripe with potential.