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PayPal Holdings Inc. Negative Forecasts for the End of the Year

11/9/2022 2:54 PM

The shares of PayPal Holdings Inc., the largest debit payment system, are falling, trading at 81.00.

Quotes continue to move negatively against the corporation's estimates of the current financial year results: management believes that due to high inflation, consumer spending does not contribute to the growth of payments, negatively affecting revenue. For the current year, the income growth forecast decreased to 10.0% from 11.0% earlier, with which leading analysts agree: KBW Bank experts lowered the target price for PayPal Holdings Inc. securities. from 115.0 dollars per share to 95.0 dollars per share.

Also, the corporation's financial report was published, according to which revenue amounted to 6.85B dollars, which exceeded both analysts' expectations of 6.816B dollars and the previous quarter's figure of 6.81B dollars. Earnings per share (EPS) was 1.08 dollars, up from 0.93 dollars a quarter earlier. The company still does not pay dividends to holders of its securities, and the buyback program is the only thing that can attract investors to the asset, so there are no prospects for a significant increase in quotations yet.

On the daily chart of the asset, a corrective trend continues, which is a narrow downward channel within which the price is heading toward the lower border.

Technical indicators maintain a sell signal: the range of fluctuations of the Alligator EMA began to expand in the direction of decline, and the AO histogram forms downward bars, falling in the sell zone.

Resistance levels: 89.00, 103.00. | Support levels: 77.00, 67.50.

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