What's Going On With PayPal Holdings Stock?

PayPal Holdings, Inc. PYPL shares are trending Thursday, and the stock has lost nearly 7% over the past five days. Here's a look at what's going on.

What To Know:

Back in early December, Amazon.com Inc. AMZN announced that it will no longer be accepting Venmo as a payment option beginning on Jan. 10. 

Paypal's appointment of Suzan Kereere as president of global markets became effective on Jan. 1.

Oppenheimer analyst Dominick Gabriele downgraded PayPal Holdings from Outperform to Perform on Thursday. Of the 31 analysts with ratings on Paypal, 20 have a positive rating, 10 have a neutral rating and one analyst holds a negative rating on the company.

According to data from Benzinga Pro, PayPal shares lost more than 22% in 2023 and are currently trading above the stock's 50-day moving average of $57.50, yet well-below its 52-week high of $88.62.

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PYPL Price Action: According to Benzinga Pro, PayPal shares are down 0.58% at $58.32 at the time of publication.

Image: Courtesy of Paypal Holdings, Inc.