Bernstein analyst Harshita Rawat raised the price target on PayPal to $60 from $55 and maintained a ‘Market Perform’ rating on the shares.
- The analyst noted that since early June, the average performance across the firm’s coverage of Payments, Processors & IT Services names has been up 10%.
- The firm sees further upside potential in the stock given still high free cash flow yield, potential for meaningful shareholder returns, and strategic unlocks across the sector.
- Meanwhile, veteran investor Michael Burry said in a post on his Substack on Wednesday that he had purchased more shares of PYPL near $59 levels.
Shares of PayPal Inc. (PYPL) are on track to post a second week of gains after the company posted positive third-quarter (Q3) earnings results last month, beating Wall Street expectations and outlining cost reduction plans alongside strong growth in Venmo and total payment volumes (TPV).
Wall Street is optimistic about the company’s future prospects, with Bernstein raising the price target on the company, and ‘The Big Short’ investor Michael Burry giving PayPal his thumbs up.
Bernstein Sees Further Upside Potential In PYPL Stock
According to The Fly, on Wednesday, Bernstein analyst Harshita Rawat raised the price target on PayPal to $60 from $55 and maintained a ‘Market Perform’ rating on the shares. The revised target implies an upside of about 1% from its last close.
Rawat noted that since early June, the average performance across the firm’s coverage of Payments, Processors & IT Services names has been up 10%, while the market has been down 1%.
The firm sees further upside potential in the stock given still high free cash flow yield, potential for meaningful shareholder returns, and strategic unlocks across the sector.
Burry Buys More PYPL Stock
Meanwhile, veteran investor Michael Burry said in a post on his Substack on Wednesday that he had purchased more shares of PYPL near $59 levels.
He noted the company’s aggressive stock buybacks following a rejected a takeover bid from Advent-Stripe earlier this year.
“PayPal’s not going away after all, and yes it will grow. This is a pretty concrete value case,” he said.
What’s Retail Saying About PayPal?
On Stocktwits, retail sentiment around PYPL stock was ‘bearish’ at the time of writing. However, many investors are still optimistic about the company’s long-term potential.
One user said, “$PYPL closing on high of day with hit piece today is good buyout news soon.”
Another user said, “$PYPL just when I thought I was out, they sucked me back in.”
A third user said, “$PYPL my theory is once January leap contracts expire this thing will begin to take off. This year in January this thing took a down direction, next year in January this takes an up direction. You got shares outstanding diminishing by the day but selling pressure still remains? That doesn’t seem logical.”
PYPL stock has gained about 3% in 2026.
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