PayPal Stock Is Moving Higher Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
PayPal Holdings Inc's Q3 results beat estimates, with revenues of $7.4 billion and EPS of $1.30. Revenues were up 8% YoY, while earnings jumped 20%. Total payment volume climbed 13% to $387.7 billion. However, total active accounts decreased from 432 million YoY to 428 million. The company expects Q4 revenue to be up 6% to 7% YoY and adjusted earnings of approximately $1.36 per share. Canaccord Genuity analyst Joseph Vafi maintained a Buy rating for PayPal but lowered the price target from $110 to $100.
November 02, 2023 | 12:59 pm
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POSITIVE IMPACT
PayPal's Q3 results beat estimates, driving the stock price higher. However, a decrease in active accounts could be a concern. The company's outlook for Q4 is positive, but the lowered price target by Canaccord Genuity might impact investor sentiment.
PayPal's better-than-expected Q3 results and positive Q4 outlook are likely to drive the stock price up in the short term. However, the decrease in active accounts could be a potential concern for investors. Additionally, the lowered price target by Canaccord Genuity might impact investor sentiment negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100