"PayPal's 2024 Outlook: Wall Street's Mixed Signals on PYPL's Profit Potential"
Originally Published 2 years ago — by Investor's Business Daily
PayPal Holdings has been downgraded by an Oppenheimer analyst due to concerns that profitability improvements from its push into the SMB market will take years, causing its stock to perform rather than outperform. Meanwhile, Square's parent company Block has seen a decline in early 2024 after a rally in late 2023. Square has also rolled out a new bitcoin digital wallet called Bitkey for Cash App users in 95 countries, which could potentially increase the use of their Cash App, especially among crypto users. The overall outlook for fintech stocks like PayPal and Square could improve if the U.S. economy avoids a recession in 2024.