Q2 STOCKS TO BUY

PayPal Stock on the Rise After Billion-Dollar Deal in Japan

Sentiment surrounding PayPal has been overwhelmingly bullish

Digital Content Manager
Sep 8, 2021 at 9:59 AM
facebook X logo linkedin


The shares of PayPal Holdings Inc (NASDAQ:PYPL) are up 1.8% at $298.40 this morning, following news that the company will acquire Paidy -- a Japanese buy now pay later (BNPL) company -- in a $2.7 billion mostly cash deal. Last year, the company acquired two smaller Australian BNPL firms, Sezzle and Zip Co. PayPal's top competitor Square (SQ) just made a similar overseas move, too, in which it acquired Australia's BNPL business Afterpay in a deal worth $29 billion. 

PayPal stock has been a steady performer this year, rising 25.2% in 2021, and up 52% in the last 12 months. Though a late-July bear gap distanced the shares from their July 23 peak of $309.47, PYPL staged a bounce of its 140-day moving average and $270 level, and is well on its way to closing said bear gap. 

Sentiment surrounding PYPL has been quite optimistic. Of the 26 in coverage, 25 call the stock a "buy" or better. Plus, the 12-month consensus price target of $327.67 is a 9.8% premium to last night's close. 

Echoing this bullishness, at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), PYPL sports a 10-day call/put volume ratio of 5.44, which stands in the top percentile of its annual range. This means long calls haven't been more popular during the past year. 

 

 

 
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.

 

 
 

Follow us on X, Follow us on Twitter