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Mizuho survey shows PayPal the 'path to success'

Published 11/10/2023, 04:32 am
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PYPL
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Mizuho's proprietary survey shows that PayPal (NASDAQ:PYPL) can be fixed, according to the firm's analysts in a note Tuesday.

The firm conducted an anonymous survey of nearly 50 institutional investors and said the result "lays [the] path to success."

"Our proprietary anonymous survey of nearly 50 institutional investors sheds light on what investors may want to see from PYPL's new CEO, Alex Chriss," the analysts noted, who have a Buy rating and $92 price target on the stock.

"The good news is that 85% believe that PYPL is potentially fixable. The majority (78%) prefer to see management prioritize revenue growth over margin expansion," they added.

Furthermore, Mizuho said 64% wish for a combination of the PayPal and Venmo platforms, while they found that "interestingly," only 28% expressed an appetite to build out an SMB/B2B strategy. The analysts noted that the new CEO ran the Small Business and Self-Employed group at Intuit (NASDAQ:INTU).

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