Raymond James analyst John Davis downgraded PayPal to Market Perform from Outperform without a price target. The analyst cites the stock’s outperformance this year along with the firm’s "cautious stance" on the company’s Q4 results for the downgrade. While PayPal shares remain "inexpensive," multiple expansion will provide difficult if branded checkout is losing market share share, the analyst tells investors in a research note. Raymond James thinks cost cutting will be needed to offset sales weakness.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on PYPL:
- PYPL Down after Analyst Downgrade
- Appeals court revives CFPB rule over fees for prepaid customers, Reuters says
- DOJ antitrust division scrutinizes pacts between Visa and PayPal, Bloomberg says
- PayPal confirms reducing global workforce by about 2,000 full time employees
- PayPal to lay off 7% of employees amid efforts to cut costs, MarketWatch says