PayPal (PYPL): Financial Outlook Removes Overhang - Baird
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Baird analyst, Colin Sebastian, reiterated his Outperform rating on shares of PayPal (NASDAQ: PYPL) after earnings. The analyst believes the intermediate-term margin guidance should assuage investor concerns.
PayPal reported Q3 results in-line with street expectations reflecting secular e-commerce growth and increasing market share. Management provided updated three-year financial targets that reflect more proactive efforts to gain incremental revenues and cost efficiencies to offset margin headwinds from the recent V/MA deals.
Management increased out-year revenue growth guidance with stable operating margins vs. expectations for slightly compressing margins. No change to the price target of $48.
Shares of PayPal closed at $40.09 yesterday.
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