Legendary trader Paul Tudor Jones' investment firm, Tudor Investment Corp., has taken a significant stake in PayPal, acquiring nearly 888,239 shares and 64,800 call options. This move comes as analysts highlight PayPal's undervaluation and growth potential, suggesting a significant upside for investors.

PayPal has been showing a promising turnaround trajectory, with robust financial reports and a double beat in its Q1 FY2024 earnings call. Despite concerns over margin pressures and conservative guidance for FY2024, PayPal's inherent undervaluation and potential for future expansion have attracted bullish sentiment. With forward price-to-earnings (P/E) ratios indicating undervaluation compared to historical averages and industry peers, many analysts see an opportunity for significant upside potential in PayPal's stock.

Technical analysis suggests a bullish momentum, aiming for a breakout above $68. If successful, this could take the stock to $76 levels. However, bearish traders should wait for a daily closing below $62 before initiating a short position.

Tudor Investment Corp.'s move into PayPal is a vote of confidence in the company's growth prospects, and with its undervaluation and potential for expansion, PayPal's stock may be poised for a significant upside. As the investment firm founded by Paul Tudor Jones, Tudor Investment Corp.'s bullish stance on PayPal is worth taking note of.