PayPal Attracts Takeover Interest After 42% Slide, Appoints HP’s Enrique Lores
PayPal has drawn takeover interest as banks gauge bids after a 42% share decline over the past year. The company named HP’s Enrique Lores CEO effective March 1 while analysts slashed price targets from $100 to $42.
1. Takeover Interest Grows
Banks have initiated talks on potential bids for PayPal as the company’s shares slid 42% over the past year, fueling speculation that digital-payment rivals may pursue an acquisition.
2. Leadership Shake-Up
HP Inc Chief Enrique Lores will assume the CEO role on March 1, replacing Alex Chriss after management acknowledged branded checkout growth and overall performance fell short of internal targets.
3. Analyst Downgrades
Canaccord Genuity downgraded the stock from Buy to Hold and cut its target from $100 to $42, while Cantor Fitzgerald lowered its forecast to $42 and Truist set a $39 target after revising growth outlooks downward.
4. Technical Indicators
Shares trade 3.2% below the 20-day simple moving average and 27.2% below the 100-day average, with an RSI of 40.43 and the MACD above its signal line, reflecting mixed momentum in a bearish-to-neutral trend.