Shares of financial technology powerhouse PayPal (PYPL) have been tumbling for many months now. Jeffries analyst Trevor Williams even moved the stock to Hold from Buy alongside a $200 price target, just $10 north of the Street-low target for PayPal stock. The Jeffries downgrade came just days after that of BNP Paribas. Undoubtedly, it's quite convenient for an analyst to downgrade after a substantial fall in a stock. In any case, analyst downgrades seem warranted. I remain bearish. More Downgrades Coming? Williams does have some concerns that dip buyers may wish to weigh amid the stock's sell-off.
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