PYPL

PayPal Holdings, Inc.

71.40
USD
2.23%
71.40
USD
2.23%
67.58 310.16
52 weeks
52 weeks

Mkt Cap 83.90B

Shares Out 1.18B

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Why PayPal Stock Shot 6% Higher Today

What happened PayPal Holdings (NASDAQ: PYPL) was one of the financial sector's winning stocks on the last day of trading before the long holiday weekend. The company's shares popped by nearly 6%, trouncing the 2.5% increase of the bellwether S&P 500 index. Investors were hopeful that the apparent start of a restructuring program will bring the desired results. So what The news was reported by Bloomberg on Thursday. Citing "people familiar with the matter," the news agency said that PayPal has begun laying off some of its employees. These workers previously labored in the risk management and operations units of the company. The pink slips were distributed at PayPal facilities in Chicago, Omaha, and Chandler, Arizona. It's likely more are coming, as the company previously announced it would be cutting roughly 80 people in its Silicon Valley headquarters located in San Jose, California. Now what Following the release of its first-quarter results at the end of April, PayPal hasn't been a particularly favored stock among investors this month. While the company's revenue and earnings were broadly in line with analyst expectations, its annual and quarterly profitability guidance fell notably short of outside projections. The anticipated full-year 2022 net profit is expected to be $3.81 to $3.93 per share, for example, while the average prognosticator estimate is $4.63. Investors get spooked when the disparities between company and analyst expectations are wide. More broadly, many are concerned that inflation will eat away at the fundamentals of finance sector and fintech companies. This confluence of factors has helped push PayPal's stock price down; the restructuring measures could mitigate some of the potential negative effects, hence the market's optimism on Friday. 10 stocks we like better than PayPal Holdings When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and PayPal Holdings wasn't one of them! That's right -- they think these 10 stocks are even better buys. *Stock Advisor returns as of April 27, 2022 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends PayPal Holdings. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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