Mizuho Financial Group has downgraded PayPal Holdings Inc. from 'Outperform' to 'Neutral,' slashing its price target by $10 to $50. The move reflects growing concerns over Elon Musk's upcoming X Money platform, which threatens PayPal's core peer-to-peer payments and checkout businesses.

PayPal's disappointing Q4 results—$1.23 EPS versus $1.29 expected and $8.68 billion revenue against $8.82 billion estimates—compound the pressure. Insiders have sold 87,608 shares worth approximately $3.83 million over the past three months, signaling waning confidence.

X Money, set to launch in April, leverages X's 400 million monthly active users as a ready-made audience. The platform's integrated approach—combining payments, digital wallets, and commerce—mirrors PayPal's offerings but within a more expansive ecosystem.