Bernstein said PayPal is finally on a positive trajectory after nearly three years of underperformance. Analyst Harshita Rawat upgraded the stock to outperform, the first upgrade after downgrading to market perform in 2021. . When Bernstein downgraded PayPal three years ago, the company cited concerns about increased competition, structural changes in the e-commerce industry and weak execution that were hurting the company’s gross margins. These fears have come true, with PayPal shares down about 75% since late July 2021. Be inspired. “PayPal also provides strategic options for a number of e-commerce/digital commerce waterfront properties,” Rawat wrote in a note on Wednesday. She also said the stock’s current valuation is attractive. Rawat warned that some macro headwinds could hurt the stock, but she still predicted “a greater likelihood of steady gains and gains in the coming quarter.” PayPal shares are set to rise 8.3% in 2024, lagging the S&P 500’s 15.9% gain. The stock has fallen more than 12% in the past 12 months.
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