![]() The firm maintained its buy rating on stock while lowering its price target on to $275 from $325. Davidson, in a note to clients on Tuesday. "PYPL was one of the pandemic's biggest beneficiaries, but the uneven global macro recovery amid supply chain issues as well as tough comps are challenging growth prospects," wrote analysts at D.A. Multiple analysts lowered their price targets after the call. ![]() "But obviously, only a select few deals will meet our very strict financial, strategic and capital allocation criteria." "Exploring all potential opportunities to enhance shareholder value is our responsibility," he said. Schulman addressed the matter on Monday's call, without naming Pinterest. PayPal later said that it wasn't looking to buy Pinterest. Investors started turning bearish on PayPal last month following reports that the company was in late-stage talks to acquire social media app Pinterest. It's now down 14% in 2021, while the Nasdaq is up 23% for the year. The stock surged during in 2020 as consumers turned to e-commerce during the height of the pandemic. PayPal had already missed estimates on third-quarter revenue and lowered its forecast for the current year. "We are seeing the impact of global supply chain shortages in our merchant base, consumer confidence is weakened with the absence of stimulus payments, and with the economy reopening, more people may be likely to do their holiday shopping in-store," Schulman said on the call. Analysts were projecting revenue of $31.6 billion, according to Refinitiv. The company said revenue for fiscal 2022 will increase about 18%, which would equal full-year sales of close to $30 billion. However, that optimism quickly faded during the earnings call, when PayPal CEO Dan Schulman gave guidance for next year. Starting next year, PayPal users will be able to make purchases on and the Amazon mobile shopping app with their Venmo accounts. ![]() Investors initially cheered PayPal's third-quarter earnings report, not because of the results, but because of a partnership the company announced between its Venmo payment app and Amazon. ![]() Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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