PayPal Holdings was added to the Goldman Sachs “Americas Conviction List” on Monday, ahead of the payment company’s quarterly earnings results, due Wednesday. Goldman maintained its 12-month price target of $45 on the stock, which implies a 29% return potential. Shares of PayPal are down 14% since the company began trading as an independent public company following a spinoff in July from eBay Inc. . Goldman said the decline in PayPal’s stock has been related to competition, not near-term financials, at least in the near term. Goldman said it expects PayPal to grow total payment volume by 19.2% to $69.4 billion in the third quarter, representing a slight acceleration from 18.9% in the second quarter.
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