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Investing.com - Piper Sandler initiated coverage on PayPal (NASDAQ:PYPL) with a neutral rating and a $74.00 price target on Tuesday.
The research firm noted that PayPal is currently undergoing a strategic pivot with new management working to create a monetizable, omnichannel commerce hub for its more than 436 million accounts.
Piper Sandler expressed cautious optimism about management’s ability to execute on this opportunity but highlighted that the strategy will likely require significant investment spending in the coming years, potentially weighing on margins.
The firm cited PayPal’s large scale and slower-than-peer growth outlook as key factors in its neutral stance on the digital payments company.
Given these considerations, Piper Sandler believes PayPal shares are appropriately priced at a slight discount to peers, reflected in its $74 price target.
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