Investors weigh PayPal’s turnaround, takeover chatter ahead of earnings
PayPal (PYPL) is set to report fiscal second quarter results before the market opens on July 28, with a conference call scheduled for 8:00 am EDT. What to watch for: OUTLOOK: PayPal is expected to post Q2 EPS of $1.28 on $8.5B in revenue. STOCK ACTION: PayPal shares have rallied roughly 27% over the past month and recently traded near $56. STRIPE/ADVENT TAKEOUT: Truist upgraded PayPal to Hold from Sell last week, citing the difficulty of making a definitive call on the stock while a potential Stripe/Advent acquisition remains in play. The firm said the Stripe bid is "real" and noted meaningful potential synergies between the companies. Earlier reporting from The Wall Street Journal indicated Stripe and Advent are still evaluating next steps after PayPal viewed the prior offer as too low. notes that Stripe and Advent recently submitted a $60.50 per share proposal. REORGANIZATION: Clear Street has recently initiated coverage of PayPal with a Hold rating and $61 price target, saying the company is at a "strategic crossroads" as investors look for clarity on the latest reorganization. The firm argued PayPal has "hidden value obscured by a complex organizational structure" and that.
PayPal (PYPL) is set to report fiscal second quarter results before the market opens on July 28, with a conference call scheduled for 8:00 am EDT.
What to watch for: OUTLOOK: PayPal is expected to post Q2 EPS of $1.28 on $8.5B in revenue.
STOCK ACTION: PayPal shares have rallied roughly 27% over the past month and recently traded near $56.
STRIPE/ADVENT TAKEOUT: Truist upgraded PayPal to Hold from Sell last week, citing the difficulty of making a definitive call on the stock while a potential Stripe/Advent acquisition remains in play.
The firm said the Stripe bid is "real" and noted meaningful potential synergies between the companies.
Earlier reporting from The Wall Street Journal indicated Stripe and Advent are still evaluating next steps after PayPal viewed the prior offer as too low. notes that Stripe and Advent recently submitted a $60.50 per share proposal.
REORGANIZATION: Clear Street has recently initiated coverage of PayPal with a Hold rating and $61 price target, saying the company is at a "strategic crossroads" as investors look for clarity on the latest reorganization.
The firm argued PayPal has "hidden value obscured by a complex organizational structure" and that.