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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Wells Fargo analyst Jeff Cantwell's post-conference call with PayPal Holdings, Inc (NASDAQ:PYPL) listed multiple challenges for PayPal going forward.
- They saw that the competition had increased significantly for PayPal across its merchant and consumer businesses due to advances made by others, including Adyen N.V. (OTC:ADYYF), Stripe, and Apple Inc (NASDAQ:AAPL), fueling doubts about the sustainability of PayPal's moat.
- They believe that PayPal's share in online checkout may shift further away from PayPal due to weaker product innovation.
- They saw pricing headwinds (take rate) increasingly likely for PayPal over the longer term.
- Due to the challenges, they expected a consensus EPS estimate of $(4.78) to come down for next year, and longer-term sustainable EPS growth for PayPal may miss the 20%+ annually.
- Cantwell reiterated an Overweight on PayPal with a price target of $115 (48% upside).
- Price Action: PYPL shares traded lower by 2.17% at $76 on the last check Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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