Why PayPal (PYPL) Stock Is Down 16% This Week

PayPal Holdings Inc PYPL shares are trading lower by some 16.37% to $63.26 over the trailing five sessions despite better-than-expected first-quarter results.

Traders and investors this week may be reacting to commentary surrounding the results, as the stock received a number of analyst rating updates following the earnings print.

Additionally, Exane BNP Paribas analyst Thomas Poutrieux downgraded PayPal on Friday from Outperform to Neutral.

What Happened With Earnings?

PayPal reported first-quarter revenue of $7.04 billion, which was up 9% year-over-year. The revenue beat a Street consensus estimate of $6.98 billion.

The company reported earnings per share of $1.17 for the first quarter, beating a Street estimate of $1.10.

Total Payment Volume for the first quarter was $354.5 billion...Read More

According to data from Benzinga Pro, PYPL has a 52-week high of $103.03 and a 52-week low of $62.64.