Citi analyst Andrew Schmitt maintains $PayPal (PYPL.US)$ with a buy rating, and sets the target price at $94.
According to TipRanks data, the analyst has a success rate of 49.1% and a total average return of 1.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $PayPal (PYPL.US)$'s main analysts recently are as follows:
The firm suggests that the positive performance of the FinTech sector is expected to persist as we approach the third-quarter financial reports. They note that the current macroeconomic conditions, stable to declining interest rates, more balanced fund flows, a more optimistic view of the potential for large-cap valuations, and continued improvements in profitability could all contribute to stronger support for stock valuations. The analyst indicates a preference shift toward higher risk profiles in alignment with the sector's new phase.
PayPal's shares have seen a resurgence following its second-quarter results, bolstered by a flurry of announcements on new initiatives and partnerships. After delivering a robust performance in the first half of the year, the company is poised to sustain its momentum into the latter half.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
