5 Stocks Making Big Moves on Earnings Reports

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1. PayPal Holdings, Inc. (NASDAQ:PYPL)

Number of Hedge Fund Holders: 143

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) plummeted to a nearly one-year low on Tuesday, 9 November 2021, after its third-quarter revenue missed expectations. The online payment processor generated revenue of $6.18 billion in the third quarter, up 13 percent versus last year but below the consensus forecast of $6.23 billion.

On the bright side, the adjusted earnings of $1.11 per share for the quarter surpassed analysts’ average estimate of $1.07 per share. In comparison, PayPal Holdings, Inc. (NASDAQ:PYPL) had posted adjusted earnings of $1.07 per share in the comparable period of 2020.

Looking at the key growth drivers, total payment volume (TPV) in the quarter jumped 26 percent on a year-over-year basis to $310 billion. TPV on its flagship Venmo app rose 36 percent versus last year to $60 billion. In addition, PayPal Holdings, Inc. (NASDAQ:PYPL) added 13.3 million net new accounts in the quarter, bringing the total count to 416 million.

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The company also issued its financial guidance for the fourth quarter. PayPal Holdings, Inc. (NASDAQ:PYPL) expects adjusted earnings of $1.12 per share and revenue in the range of $6.85 billion – $6.95 billion. The outlook missed the consensus forecast of $1.27 per share for earnings and $7.24 billion for revenue.

You can also take a peek at 10 Growth Stocks to Buy According to Jay Chen’s Himension Capital and Top 10 Stock Picks of Brandon Osten’s Venator Capital Management.

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