Analysts Are Downgrading These 5 Stocks

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

Number of Hedge Fund Holders: 115

PayPal Holdings, Inc. (NASDAQ:PYPL) is a payment platform provider enabling cross-border transactions for businesses and consumers. It is headquartered in San Jose, California. PayPal Holdings, Inc. (NASDAQ:PYPL) is another company facing the heat from inflation, as it revealed in February 2023 that consumer spending slowed down during last year’s fourth quarter. Exane BNP Paribas analyst Alexandre Faure downgraded PayPal from Outperform to Neutral on May 12.

Paypal Holdings, Inc. (NASDAQ:PYPL) was mentioned in the fourth-quarter 2022 investor letter of Renaissance Investment Management. Here is what it is:

“Another underperformer in the quarter was PayPal Holdings, Inc. (NASDAQ:PYPL). Despite reporting solid third quarter operating results and announcing new payment agreements with both Apple and Amazon.com, the company guided for a slowdown in e-commerce activity, partly reflecting weakened consumers who are dealing with heightened inflation. However, we still expect growth in PayPal’s core payments platforms to improve in upcoming quarters, driven by easier year-over-year comparisons.”

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