PayPal Holdings Inc PYPL shares are trading lower by 2.89% to $77.86 Wednesday afternoon after SMBC Nikko downgraded the stock from Neutral to Underperform. Additonally, Jefferies maintained a Hold on the stock but lowered its price target from $90 to $85.
What Else?
PayPal shares may also be falling during Wednesday's session in sympathy with the broader market after U.S. retail sales slumped in December. Inflation and rising interest rates continue to weigh on U.S. economic growth.
On Wednesday, the Commerce Department reported U.S. retail sales dropped 1.1% on a monthly basis in December to $677.1 billion, missing economist estimates of a 0.8% decline.
The Commerce Department also revised its November monthly retail sales growth estimate lower...Read More
According to data from Benzinga Pro, PayPal Inc has a 52-week high of $179.88 and a 52-week low of $66.38.
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