On September 3, PayPal rose 5.08% in regular trading, trading at $54.67/share, with turnover of $522 million. The rebound follows a sharp selloff triggered by the collapse of a potential acquisition deal, compounded by a fresh analyst upgrade.
On August 28, Stripe and private equity firm Advent International abandoned their joint bid to acquire PayPal at $60.50 per share, valuing the company at approximately $53 billion. PayPal's board had deemed the offer insufficient. The news sent shares plunging over 14% in pre-market trading that day, with sustained pressure in subsequent sessions. More recently, RBC Capital raised its price target on PayPal from $65 to $70, maintaining an Outperform rating, helping restore market confidence.
Broader sector strength also contributed to the recovery. Within the Transaction and Payment Processing Services sector, Block rose 6.54%, Affirm gained 6.11%, Visa added 1.9%, MasterCard climbed 1.54%, and Fiserv advanced 1.16%, reflecting an industry-wide uplift that supported PayPal's oversold bounce.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)