What's happening with #PayPal (#PYPL) stock?
PayPal Holdings, Inc. is confirmed to report Q4 earnings on Feb 7, 2024. When the stock missed Q2 earnings back in August, the stock had been declining from a $76.5 high just before the earning date, down to $50.25 until the end of October losing 50% of its value back then.
Nov 1, 2023, PayPal reported positive earnings for Q3, and ever since, the stock has been reversing, gaining 13% during the first week of November.
Recently, the stock was pushed back down on Tuesday after Mizuho analyst Dan Dolev downgraded PayPal from "Buy" to Neutral and lowered the price target on the stock from $72 to $65. The downgrade at the beginning of the shortened trading week caused shares to sell off, hindering the upward momentum the stock had made last week.
However, the stock headed back up gaining 10% on since Wednesday, closing yesterday's session at $62.09. Should the stock hold at this level, then a move towards breaking the trend line is expected with the assumption for a move back higher near $70 as we are approaching Feb 7, its Q4 earning date.
What do you think?
PayPal Holdings, Inc. is confirmed to report Q4 earnings on Feb 7, 2024. When the stock missed Q2 earnings back in August, the stock had been declining from a $76.5 high just before the earning date, down to $50.25 until the end of October losing 50% of its value back then.
Nov 1, 2023, PayPal reported positive earnings for Q3, and ever since, the stock has been reversing, gaining 13% during the first week of November.
Recently, the stock was pushed back down on Tuesday after Mizuho analyst Dan Dolev downgraded PayPal from "Buy" to Neutral and lowered the price target on the stock from $72 to $65. The downgrade at the beginning of the shortened trading week caused shares to sell off, hindering the upward momentum the stock had made last week.
However, the stock headed back up gaining 10% on since Wednesday, closing yesterday's session at $62.09. Should the stock hold at this level, then a move towards breaking the trend line is expected with the assumption for a move back higher near $70 as we are approaching Feb 7, its Q4 earning date.
What do you think?