PayPal Holdings Inc (NASDAQ:PYPL) shares are trading marginally lower by 0.75% to $63.70 Friday morning. Evercore ISI Group analyst David Togut on Friday downgraded the company from Outperform to In-Line and lowered the price target from $85 to $65.
The stock has also fallen some 15% over the trailing five sessions after the company reported a sequential decline in active accounts and second-quarter earnings.
What Happened With Earnings?
PayPal reported quarterly earnings of $1.16 per share, beating the analyst consensus estimate of $1.05 by 10.48% and representing a 24.73% increase over earnings of 93 cents per share from the same period last year.
The company’s quarterly sales were $6.81 billion, exceeding the analyst consensus estimate of $6.59 billion by 3.28%, and remained consistent with the same period last year…Read More
According to data from Benzinga Pro, PayPal has a 52-week high of $103.03 and a 52-week low of $58.95.
