News

PayPal’s Challenging Transition Year

1 Mins read

PayPal Holdings Inc. is facing another difficult year, as BofA Securities analyst Jason Kupferberg downgrades the company’s shares to neutral from buy. While the new chief executive and chief financial officer work towards gaining credibility and improving top-line metrics, Kupferberg believes it will take time to achieve significant progress.

PayPal’s stock is expected to remain range-bound due to various offsetting factors. Although the company has a strong brand and balance sheet, elevated consensus expectations for next year may pose a challenge.

Despite the downgrade, PayPal shares saw a modest increase of 1.6% during Wednesday morning trading.

Toast Inc. Struggles with Decreasing Momentum and Rising Competition

Kupferberg also downgraded shares of Toast Inc., which have experienced a 17% decline this year. The decision to downgrade Toast’s stock to neutral from buy stems from the company’s slower top-line momentum and intensifying competition.

Toast shares remained relatively unchanged during Wednesday morning trading.

Bright Outlook for Discover Financial Services and Capital One Financial Corp.

In a contrasting move, Kupferberg upgraded shares of Discover Financial Services and Capital One Financial Corp. from neutral to buy, citing their potential for significant appreciation in stock prices and company valuations as peak delinquencies approach.

Discover shares surged by 5.4% in morning activity, marking their largest single-day percentage gain since November 10, 2022, according to Dow Jones Market Data. Capital One shares also experienced a 1.9% increase.

Related posts
News

Trump news at a glance: President declares 'peace in the Middle East' despite many barriers remaining

3 Mins read
Trump news at a glance: President declares ‘peace in the Middle East’ despite many barriers remaining Guardian staffBest Forex Trading Robots For…
News

Binance Founder CZ Clarifies BNB Trade Activity and Market Strategy

1 Mins read
On October 12, Binance’s founder Changpeng Zhao confirmed via X that BNB lacks market makers, highlighting its deflationary nature and community-driven development….
News

Aussies go viral for booing American national anthem at WWE Crown Jewel event in Perth

3 Mins read
7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking…

Leave a Reply

Your email address will not be published. Required fields are marked *