If you’re reluctant to invest in PayPal (NASDAQ: PYPL ), that’s understandable. It’s difficult for PayPal to protect its market share in the crowded and highly competitive fintech space. However, a moderately sized portfolio position in PayPal stock could still offer excellent returns over the long term.
My previous analysis of PayPal suggested the share price will easily reach $90 . Today, in light of a well-known technology company’s intentions in the payments-processing market, I’m moderating my bullish stance. In other words, PayPal is still a great company, but it’s too risky to overload your portfolio with PayPal shares right now.
PayPal’s Notable New Hire PayPal CEO Alex Chriss called 2024 a “transition year” for the company. As you might expect, the “transition” will include shifting PayPal’s focus toward artificial intelligence ( AI ) technology. That’s easier said than done, so PayPal is getting some help from a highly experienced executive.
Specifically, the company appointed Srini Venkatesan as PayPal’s new chief technology officer ( CTO ). Venkatesan has previous experience at Walmart (NYSE: WMT ), Yahoo! and eBay (NASDAQ: EBAY ). Chriss emphasized that Venkatesan’s “experience leading technology, digital transformation, and AI personalization from inside some of our largest customers and partners will be invaluable” to PayPal.
It’s a hire that PayPal’s shareholders can celebrate. It shows that Chriss and PayPal are serious a.
