According to Zhītōng Finance, due to competition and valuation issues, Bernstein downgraded PayPal Holdings (PYPL.US) rating from 'outperforming the large cap' to 'market perform', but raised the target price from $75 to $80.

Bernstein analyst Harshita Rawat stated in a research report: "Although the production speed of products is accelerating, we are still concerned about the competitive pressure of the cash cow core buttons, whose prices typically remain higher than similar products. In addition, due to the impact of interest rates, we believe that by 2025, there may be some negative revisions in (gross profit)."

At the end of July, Bernstein raised the rating of this stock, citing that under the leadership of the new management team, there has been an improvement in product production speed, execution, profitability, which also makes the valuation quite attractive. However, considering the recent stock price performance, there is no room for an increase in the target price.

It has risen by about 33% year-to-date, and the current trading price is 26% higher than its 200-day simple moving average.

Despite this, SA contributor analyst Daniel Jones stated: "The company has finally shown that it can turn things around, and the management continues to innovate. Furthermore, whether from an absolute level or relative to similar companies, the stock is very cheap, and I do believe that maintaining a 'strong buy' rating at present is reasonable."