Baird analyst Colin Sebastian lowered the price target on PayPal Holdings Inc. to $175 from $205 (51.3 percent upside) and kept an Outperform rating on the shares. He believed steady or even accelerating trends concerning merchant integration with digital wallets were a crucial medium and long-term positive for PayPal. However, Sebastian remained cautious near term on macro headwinds, slower growth, and competition. He still viewed PayPal as a secular winner. PayPal reported quarterly earnings of $1.11 per share, missing the consensus of $1.12. The Q4 sales of $6.90 billion beat the consensus of $6.86 billion. Recently, Goldman Sachs initiated coverage on PayPal, citing product initiatives and secular tailwinds from the digitization of payments, e-commerce growth, and international expansion. By Anusuya Lahiri © 2022 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.