The price of ZIP shares has been on the decline in recent months amid broad weakness in the tech sector and particularly within the Buy Now Pay Later (BNPL) industry.
While opinions on ZIP share price remain divided, a recent note from Morgans shows its analysts setting a target of $8.56 for the stock implying that investors have a potential of making about 96% in the next 12 months if they were to buy at its current price.
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To help stock traders eying the ZIP stock, Invezz has created a brief article on what it is and the best places to trade it.
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ZIP stock is the stock of Zip Co Limited and it trades on the Australian Securities Exchange as zipMoney Limited (ASX: Zip).
Zip Co Limited is an Australian financial technology company that was founded in 2013. It was previously known as ZipMoney Limited.
Zip Co acquired Quadpay, a US-based Buy Now Pay Later company, in 2020 as it expanded its American footprint.
ZIP stock has a positive rating from several analysts including the Morgans and it could be a great time to buy now that its price has dropped.
Most analysts see ZIP stock correcting up to above $8 in the next 12 months, which means a return of about 96% for long-term investors.
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