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PayPal Stock and Its Peer Square are Top Plays for 2020

paypal stock

PayPal (NYSE: PYPL) stock price bounced nicely in the past couple of months after experiencing volatility during the second half of 2019. Investors’ concerns over increasing market competition had impacted its share price performance during the last year. Fortunately, market analysts are seeing upside momentum for PayPal stock in the coming months. Indeed, PYPL is considered among the top picks for 2020.

On the other hand, market analysts are also seeing growth potential for Square (NYSE: SQ), which is the closest competitor of PayPal. They have provided outperform ratings for Square stock due to aggressive growth strategies and an acceleration in financial numbers. Square is a small company when compared to PayPal considering the market capitalization and global foot-prints.

The market analysts are claiming that payment processing companies are among the hot plays this year. This is because of their new revenue streams, further digitization of cash, M&A, growing alliances with FAANGs, and fintech.

PayPal Stock Is Set to Generate Gains for Investors

PYPL PayPal Holdings, Inc. daily Stock Chart

Credit Suisse has provided a price target of $135 for the PYPL share price with an Outperform rating. In addition, Morgan Stanley also expects PayPal shares to extend the upside momentum in the short-term. The firm has set a price target of $137.

On the other hand, Bernstein analyst Harshita Rawat predicts upside for PayPal Holding in 2020 due to the recent partnerships, Honey acquisition and strength in the core pricing. PayPal stock price is currently trading around $116, down from a 52-weeks high of $123.

Square Could Extend the Upside momentum

SQ Square, Inc. daily Stock Chart

Square has been growing at an immense pace over the last few quarters. Credit Suisse expects SQ share price to trade around $85 in the short-term. Its stock is currently trading around $70. Bernstein also anticipates upside for Square on the back of underlying margins pre-investments and GPV improvements. The company has recently announced a new pricing structure to boost its margins and earnings. Overall, future fundamentals are strong for payment processing companies.

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Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.