The post Here’s why analysts see a strong comeback ahead for PayPal (PYPL) appeared on BitcoinEthereumNews.com.

After a prolonged period of underperformance, PayPal (NASDAQ: PYPL) is finally showing signs of a robust comeback. The fintech company, with over 30% year-to-date gains, has outperformed the S&P 500, providing a much-needed win after three years of significant decline.  Several key factors are now contributing to renewed investor confidence, positioning PayPal for further growth. As of the close on October 19, PYPL stock is valued at $80.84, having gained 0.7% over the past five trading days. Paypal five-day stock price. Source: Google Finance Growth drivers behind PayPal’s momentum Several key growth drivers are fueling PayPal’s recent success. Initially, PayPal projected flat earnings at the start of 2024, which dampened market sentiment.  However, by the Q2 earnings call, PayPal had raised its outlook to “low to mid-teens” earnings growth for the year, reigniting investor confidence and contributing to the stock’s price surge. Strategic partnerships have also played a crucial role in PayPal’s growth. The company recently announced a partnership with Dutch payments firm Adyen to offer Fastlane, a checkout tool for U.S. enterprise and marketplace customers.  Fastlane boasts an 80% conversion rate and is expected to drive significant revenue in the coming years.  Furthermore, PayPal’s collaborations with Amazon (NASDAQ: AMZN) to integrate PayPal into its “Buy with Prime” program and with Shopify (NYSE: SHOP) to process U.S. credit and debit card transactions further strengthen its competitive position in the payments space. PayPal is also expanding into advertising, having launched PayPal Ads, a service that allows brands to advertise across its platforms, including Venmo and Honey. By 2025, this service is expected to reach over 30 million merchants, creating a significant commerce-media ad network and opening up a new revenue stream. Moreover, PayPal’s expansion into cryptocurrency services, enabling U.S. merchants to buy, hold, and sell crypto directly from their business accounts,…

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Filed under: News - @ October 20, 2024 12:19 pm