Why PayPal Stock Lost 18% in August
Shares of (NASDAQ: PYPL) stock fell 18% in August, according to data provided by S&P Global Market Intelligence. Investors continue to be disappointed in the digital-payments giant's direction after an uninspiring earnings report, and the announcement of a new CEO didn't do too much to alleviate investor concerns.
After an incredible run-up during the early days of the pandemic, when everyone was buying online, PayPal's sales are slowing down. Total payment volume increased 11% in the 2023 second quarter, and revenue increased 7%. That's not too shabby, considering it's operating in an inflationary environment.
Like many other companies, PayPal expanded a bit too much when times were good and overshot. It launched a cost-cutting program that's now demonstrating progress, but it needs more.
Source Fool.com
Paypal Holdings Inc Stock
Our community is currently high on Paypal Holdings Inc with 31 Buy predictions and 14 Sell predictions.
As a result the target price of 56 € shows a slightly positive potential of 5.11% compared to the current price of 53.28 € for Paypal Holdings Inc.
