PayPal Set for Key Q3 Earnings, Analysts Predict Continued Growth

PayPal Holdings Inc PYPL will announce its earnings for the third quarter this Tuesday. Analysts anticipate earnings per share (EPS) of $1.07, with the report coming out before the market opens.

Over the past year, PayPal’s stock has surged by 63.13%, and it has increased by 35.50% since the beginning of this year.

This report will explore the current trends in PayPal’s stock performance and how it aligns with Wall Street expectations.

Positive Momentum for PayPal Stock Before Earnings Release

Currently, PayPal’s stock exhibits a strong bullish trend. It is trading above the five-day, 20-day, and 50-day exponential moving averages, indicating potential upward momentum. However, some selling pressure may challenge this trend in the future.

Related Reading: PayPal Strengthens Ties with Global Payments for Enhanced E-Commerce Solutions

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The current price of $83.22 for PayPal stock stays above essential short-term averages: the eight-day simple moving average (SMA) at $81.17, the 20-day SMA at $80.23, and the 50-day SMA at $75.87. These figures indicate a steady interest from buyers, suggesting that PayPal might sustain its positive momentum.

Furthermore, PayPal’s MACD, at 1.82, supports a bullish perspective, highlighting ongoing upward movement. However, the Relative Strength Index (RSI) sits at 67.66, which indicates that the stock might be approaching overbought territory. This could limit its potential for further growth and increase the likelihood of a price pullback if buying pressure decreases.

Investors should keep a close eye on the stock’s momentum indicators, as they may reveal changes in direction if selling pressure rises.

Analysts Forecast 8% Growth Potential for PayPal

Ratings & Consensus Estimates: Analysts generally rate PayPal stock as a Buy, with a consensus price target of $78.24. Recent ratings from analysts at Monness, Crespi, Hardt; Stephens & Co.; and Wells Fargo average a target of $90, implying an upside of 8.02% from current prices.

Current Stock Performance: As of Monday, PayPal stock has risen by 1.9%, trading at $83.26.

For further analysis:

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