PayPal Stock Could Surge 23% to $300 on Its Cryptocurrency Move, According to This Analyst

Danny Vena, The Motley Fool

21 January 2021 at 0:54 pm·2-min read

PayPal Stock Could Surge 23% to $300 on Its Cryptocurrency Move, According to This Analyst

PayPal (NASDAQ: PYPL) made headlines late last year when the company announced a move into cryptocurrency. One analyst believes that the full measure of that opportunity isn't yet baked into its price and could drive PayPal stock to a new all-time high. BTIG analyst Mark Palmer upgraded the stock to buy from neutral (hold), saying it would gain traction from its nascent cryptocurrency platform, which could add more than $1 billion in revenue to PayPal's coffers by 2022.

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