What's Going On With PayPal Shares
Portfolio Pulse from Henry Khederian
PayPal Holdings Inc's shares are trading lower by 0.75% to $63.70. Evercore ISI Group analyst David Togut downgraded the company from Outperform to In-Line and lowered the price target from $85 to $65. The stock has fallen 15% over the past five sessions after the company reported a sequential decline in active accounts and second-quarter earnings. However, PayPal reported quarterly earnings of $1.16 per share, beating the analyst consensus estimate of $1.05 by 10.48% and a 24.73% increase over earnings from the same period last year.

August 04, 2023 | 3:50 pm
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NEGATIVE IMPACT
PayPal's stock is trading lower after an analyst downgrade and a reported sequential decline in active accounts and second-quarter earnings. However, the company beat earnings estimates.
The downgrade by Evercore ISI Group analyst and the reported sequential decline in active accounts and second-quarter earnings are negative factors for the stock. However, the company's beat on earnings estimates could provide some support.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100