What's Going On With PayPal Stock?

PayPal Holdings, Inc. PYPL shares are trading higher on Thursday. The stock has bounced around over the past month. Here's a look at the details behind the price movement.

What To Know: Following the stock's gradual rise which began in November, shares took some moderately-sized losses at the end of December and into January after reaching a three-month high on Dec. 28.

As the month progressed, the stock attempted to rebound but was pushed back down on Tuesday after Mizuho analyst Dan Dolev downgraded PayPal Holdings from Buy to Neutral and lowered the price target on the stock from $72 to $65. The downgrade at the beginning of the shortened trading week caused shares to sell off, hindering the upward momentum the stock had made last week. However, after bouncing off of support, in reference to the dip at the beginning of the month, shares attempted another comeback on Wednesday. The stock extended its gains on Thursday, pushing higher by over 4%.

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PYPL Price Action: Shares of PayPal were up 3.93% at $62.25 at the time of publication, according to Benzinga Pro.

mage by Oleksandr Pidvalnyi from Pixabay