On August 28, PayPal declined 12.62% in regular trading, trading at $53.28/share with turnover of $432 million, after the consortium of private equity firm Advent International and payment processor Stripe officially abandoned their pursuit of the fintech giant.

The consortium had offered $60.50 per share in July, valuing PayPal at approximately $53 billion. However, PayPal's board deemed the offer too low, and subsequent negotiations over a higher price failed to produce an agreement. The collapse of the deal removes a critical valuation catalyst that had driven PayPal shares up over 42% this quarter on acquisition expectations.

Loop Capital responded by cutting its price target from $62 to $50 while maintaining a Hold rating. The analyst consensus now stands at a mean target of $56.53. Reports indicate that Advent and Stripe could potentially revisit the acquisition if market conditions change, though no timeline has been specified. PayPal has not commented on the matter.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)