What's Going On With PayPal Holdings Stock?
Portfolio Pulse from Erica Kollmann
PayPal Holdings, Inc. (NASDAQ:PYPL) stock is trending due to a 7% decline over the past five days. Amazon.com Inc. (NASDAQ:AMZN) announced it will stop accepting Venmo, owned by PayPal, starting Jan. 10. PayPal also appointed Suzan Kereere as president of global markets. Analyst Dominick Gabriele downgraded PayPal from Outperform to Perform, with mixed ratings from other analysts. PayPal's stock has dropped over 22% in 2023 and is trading above its 50-day moving average but below its 52-week high.
January 04, 2024 | 3:52 pm
News sentiment analysis
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NEGATIVE IMPACT
PayPal's stock is under pressure after Amazon's decision to stop accepting Venmo and a downgrade by Oppenheimer analyst. The company's stock has been declining and is facing mixed sentiment from analysts.
The negative impact on PayPal's stock is due to Amazon's decision to discontinue Venmo as a payment option, which could reduce PayPal's transaction volume and revenue. The downgrade by an Oppenheimer analyst may also shake investor confidence, contributing to the stock's recent decline.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Amazon's decision to stop accepting Venmo may not significantly impact its stock as the payment method is just one of many options for Amazon customers.
Amazon's decision to stop accepting Venmo is a specific change to its payment options and is unlikely to have a significant impact on Amazon's overall financial performance or stock price, given the variety of payment methods available on its platform.
CONFIDENCE 75
IMPORTANCE 20
RELEVANCE 30