Morgan Stanley Just Cut Its Price Target on PayPal (PYPL) Stock

PayPal (NASDAQ:PYPL) stock is sinking 9% as of this writing after the firm estimated that its profit would be flat this year compared with 2023. This news is troubling some investors and has spurred Morgan Stanley to cut its price target on PYPL stock. A number of other analysts have also lowered their price targets on PayPal shares in response.For 2024, PayPal expects to generate earnings per share, excluding some items, of $5.10. That’s unchanged from the EPS the company reported for 2023. New PayPal CEO ...