PayPal Stock Drops 80% From Highs Despite S&P Gains, Presenting 'Buying Opportunity'
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PayPal stock has dropped 80% from its record high despite strong gains in the S&P 500, presenting a buying opportunity.
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Morningstar analyst Brett Horn has a $135 price target on PayPal, implying 120% upside.
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PayPal beat Q3 earnings estimates and new CEO Alex Chriss sees opportunities to accelerate growth.
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PayPal benefits from an AI-driven data advantage with its two-sided payments network.
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At 2.4 x sales, PayPal trades at a substantial discount to its 3-year average valuation of 6.9 x sales.