PayPal Shares Dive 22% After Company Blames Inflation for Weak Guidance

  • 📰 nbcchicago
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

In an interview with CNBC, PayPal CEO Dan Schulman said the company took “a measured approach” to guidance.

PayPal also missed user growth targets due in part to 4.5 million"illegitimate" accounts that joined the platform, which"affected our ability to achieve our guidance in the quarter," CFO John Rainey said. The company also walked back its user growth goals, which Rainey said was a"choice" to focus on"sustainable growth and driving engagement."

Canaccord Genuity Capital Markets analysts, who maintained a buy rating on the stock but lowered their price target from $315 to $215, wrote in a note Tuesday that PayPal's challenges are mainly"short-term headwinds." "While the pace of growth in net new accounts is expected to moderate in 2022, we are seeing a steady increase in user engagement metrics and expect to see more marketing behind driving engagement in 2022," the Canaccord note said."And already PYPL has shown that it remains nimble despite its size in exploiting rapidly emerging opportunities: scaling an impressive Buy Now Pay Later offering and launch of equity trading.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

Go woke go broke

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 545. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

PayPal gives downbeat earnings forecast, shares plungePayPal Holdings Inc on Tuesday forecast first-quarter revenue and profit well below expectations, as it prepares to take a hit from eBay Inc's ongoing move to ditch its payments services, sending its shares down 17.4%.
Källa: Reuters - 🏆 2. / 97 Läs mer »