Why PayPal Stock Was Down This Afternoon
Shares of PayPal Holdings (NASDAQ: PYPL) were down 1.7% as of 1:17 p.m. ET on Wednesday following comments from one analyst that maintained a hold rating on the stock. Jefferies analyst Trevor Williams says PayPal's earnings per share, a key measure of profitability closely watched by analysts, will be in the spotlight when it reports third-quarter results on Nov. 3.
The stock has been fallen 55% this year over slowing growth coming out of the pandemic. According to this analyst, it's going to take more than an earnings beat to lift the stock.
The analyst doesn't see PayPal reporting any surprises to change the narrative in the upcoming earnings report. Williams expects PayPal to report revenue below the Street's estimates, but higher margins should lead to upside in earnings per share.
Source Fool.com
