Why PayPal Stock Jumped 13% Last Month
Shares of financial-technology (fintech) company PayPal Holdings (NASDAQ: PYPL) jumped 13.4% during July, according to data provided by S&P Global Market Intelligence. The stock went nowhere for most of last month. And in August, it's already giving back July gains. But for a brief moment, PayPal stock was soaring on the heels of its latest quarterly financial report.
On July 30, PayPal reported its financial results for the second quarter of 2024, beating estimates on the top and bottom lines. At the top, the company generated revenue of $7.9 billion, which was up 8% year over year. And at the bottom, it had earnings per share (EPS) of $1.08, which was up 17%.
PayPal continues to see growth in both active accounts and transactions per user. Moreover, the company's enterprise products are also growing, with expanded partnerships announced with DoorDash and Meta Platforms.
Source Fool.com
Paypal Holdings Inc Stock
Currently there is a rather positive sentiment for Paypal Holdings Inc with 32 Buy predictions and 14 Sell predictions.
With a target price of 55 € there is a slightly positive potential of 7.36% for Paypal Holdings Inc compared to the current price of 51.23 €.
