We recently published 8 Stocks on Jim Cramer’s Radar. PayPal Holdings, Inc. (NASDAQ:PYPL) is one of the stocks on Jim Cramer’s radars.
Payments platform operator PayPal Holdings, Inc. (NASDAQ:PYPL) crossed Jim Cramer’s attention after a fresh piece from investment bank Morgan Stanley. The note was quite impactful as it saw the bank not only downgrade the shares to Underweight from Equalweight but also cut the share price target to $51 from $74. As part of its rationale, Morgan Stanley commented that PayPal Holdings, Inc. (NASDAQ:PYPL)’s checkout integrations appeared to be sluggish and could end up affecting the firm’s margins. The bank wasn’t the only one that lowered its price target recently. For instance, on December 5th, Deutsche Bank cut PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price target to $65 from $75 and kept a Hold rating on the shares. The target cut had followed UBS reiterating its Hold rating and a $80 price target on December 4th, after also noting the dip in checkout integration. As for Cramer, he called the Morgan Stanley coverage “devastating” and discussed PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price:
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“But everybody seems to dislike PayPal. Morgan Stanley comes out with a piece today that’s so devastating. Downgrade to Underweight, this is PayPal. . .they’re talking about agentics not helping, earnings risk, slowing Venmo. Branded share loss. Holy cow, that stock’s going lower, maybe much lower.
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Disclosure: None. This article is originally published at Insider Monkey.
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