When PayPal Holdings (PYPL) reports first quarter earnings on Tuesday, investors will be looking for more signs that its new chief executive, Alex Chriss, is making the right moves. PayPal stock has gained 8% in 2024.
competing for purchasing power from Artificial Intelligence to social media is a very hot and changing business. Despite high interest rates and the return of student loan repayments, experts say the retail sector saw an impressive 2023. Looking ahead, experts are “cautiously optimistic,” but that doesn’t mean consumers will blindly shop till they drop.” vid-name=”How Retailers Are Using AI And Social Media To Enhance The Shopping Experience” vid-cat=”Industry Insights” vid-date=”01/12/2024″ vid-date-tmsp=”1705063297″ vid-image=”https://www.investors.com/wp-content/uploads/2024/01/51XuBU0S-640×360.jpg” vid-authors=”MEREDITH HEYMAN, MIKE JUANG”>
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Analysts predict 4% EPS growth to $1.22 a share with revenue rising 7% to $7.52 billion.
Jefferies analyst Trevor Williams in a report said it’s still early days in the new CEO’s turnaround efforts.
PayPal Stock: Improving Profit Outlook?
“Sentiment has improved markedly post-Q4 with reset 2024 estimates viewed as being de-risked, growing confidence that Braintree pricing will eventually revert higher, and excitement around Fastlane’s potential — which has fueled a bull case of high-single-digit gross profit growth in 2025,” Williams said.
PayPal in early 2024 rolled out a faster online checkout service called Fastlane. PayPal’s Braintree unit includes the Venmo person-to-person payment service.
On the stock market today, PayPal stock rose 1.5% to 66.98. It is down 12% from a year ago.
Chriss aims to rekindle for the digital payments firm’s growth amid stiff competition from Apple‘s (AAPL) payment products. PayPal named Chriss, a former Intuit (INTU) executive, as its CEO on Aug. 14 last year. He took over in September.
Also, San Jose, Calif.-based PayPal acquired mobile payments company Braintree in 2013.
A big part of Chriss’ strategy is expanding “PayPal Complete Payments” services in the small- and medium-size business market.
Shares in PayPal have been consolidating. PayPal stock trades just below an entry point of 68.21 heading into the Q1 earnings report.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
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