PYPL has not been participating in the rally that other tech stocks have benefited from. I am not sure why. Price recently hit a long term trend line and bounced. I am less convinced that there is meaningful follow through, but further upside is expected.
What is your price target and when do you expect Pypl to achieve it? I’m thinking $95 in 12 months and $135 in 2 years. Who knows? It could be much higher.
Thnacks
⋅
@kevinbartley81, I am looking at a short term play around 65.
kevinbartley81
⋅
I am very curious why PYPl has not participated in recent rally. I checked more than a hundred stocks on my watchlist and then are fewer than 5 high caliber companies that have not rebounded. I am a little concerned about that. The only reason I can see that is holding down sentiment is the ridiculous and nonstop attack from analysts, who all rate it a buy, that Apple Pay is taking market share and transaction volume is falling. Two thoughts on that. First, competition is always there. Nvda has amd at there heels. Home Depot has Lowes to contend with. Most every large company has at least one competitor. Mastercard hasn’t stopped visa from taking profits. The Apple Pay argument is completely overcooked. Second, transaction volume growth is bound to sputter during inflationary periods. Heck, people are watching their piggy banks. That’s just life. PayPal revenue is three times larger than it was when PYPl was trading at the same price 6 years ago. The stock appears significantly undervalued at this price level.
Thnacks
⋅
@kevinbartley81, I don't trade fundamentals just technicals. This could be manipulation for all I know. It hit a long term trend line and bounced. That is all I am concerned about.