![PayPal Stock: PayPal Profits Owed as Wall Street Waits for a Turnaround 1 PayPal Stock: PayPal Profits Owed as Wall Street Waits for a Turnaround](https://www.trendfeedworld.com/wp-content/uploads/2024/04/PayPal-Stock-PayPal-Profits-Owed-as-Wall-Street-Waits-for.jpg)
When PayPal shares (PYPL) reports first-quarter earnings on Tuesday, investors will be watching for more signs that new CEO Alex Chriss is making the right moves. PayPal stock is up 8% in 2024.
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Analysts forecast earnings per share growth of 4% to $1.22 per share, while revenue will rise 7% to $7.52 billion.
Jefferies analyst Trevor Williams said in a report that it is only early stages of the new CEO's turnaround efforts.
PayPal Stock: Improving Earnings Outlook?
“Sentiment has improved significantly after the fourth quarter, with 2024 reset estimates considered risk-free, growing confidence that Braintree prices will eventually move higher again, and excitement about Fastlane's potential – which has led to a bull case of high single-digit gross profit growth. by 2025,” Williams said.
PayPal introduced a faster online payment service called Fastlane in early 2024. PayPal's Braintree unit includes the Venmo person-to-person payment service.
On the stock market today, PayPal shares rose 1.5% to 66.98. It is 12% less than a year ago.
Chriss aims to reinvigorate the digital payments company's growth amid fierce competition Apple's (AAPL) payment products. PayPal mentioned Chriss, a former Intuitive (INTU) executive, as CEO on August 14 last year. He took over in September.
Also, San Jose, California-based PayPal acquired mobile payments company Braintree in 2013.
A large part of Chriss' strategy is to expand “PayPal Complete Payments” services in the small and medium business market.
Consolidate shares in PayPal. PayPal stock is trading just below one entry point of 68.21 heading into the first quarter earnings report.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
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