PayPal Holdings Inc. (PYPL) stock began being bullish in the aftermarket, gaining 0.19% at $188.40 on November 23. The stock lost 0.75% during the day at a volume of 20 million, to close at $188.05. The day’s volume was 167% higher than the 65-day average of 12.01 million. In the normal trading session, the stock went up to $190.79 and also saw a low of $185.20. While in the past 52-weeks, the stock varied between $184.28 and $310.16. In the last five days, the stock lost a value of 12.81% and 22.61% in the past month. While in the past three months the value lost is 32.72% and 19.71% year to date. The current upward movement in the stock seems to be a recovery from its last profit booking.
Founded in 1998, PayPal Holdings Inc. (PYPL) is an American multinational financial technology company, which operates online payments systems in the majority of countries.
PYPL stock’s Movement
Like most other online payment platforms, PayPal also took a hit from the lockdowns of Covid-19. While the stock did show some good gains on its third-quarter earnings and related news but overall the stock has lost 19.71% year to date, with a loss of 32.72% in the past three months only.
The stock’s last big gain was on November 4, when it reached a high of $231. While it was not much of a big gain compared to its 52-week high of $310.16. It was enough for profit bookers to take advantage of. After the gain on November 4, the stock had been in a more or less downtrend with a slight gain around November 15. Currently, the stock had been on a 5th consecutive day of loss or downtrend, until the market closed on November 23.
The market sentiments seem to be in favor of the PYPL stock, as it has started gaining mildly and recovering from its previous fall.
As of November 23, news is surging about new Covid-19 patients being diagnosed across Europe. This might lead to new series of lockdowns. But only time will tell if the stock will suffer more or continue going up.
PayPal’s Financials
PayPal Holdings Inc. (PYPL) declared its third-quarter financial results on November 8, 2021. As per the results, the company had net revenue of $6.18 billion, which grew 13% on a spot and FX-neutral basis. Moreover, the non-GAAP earning per share of the third quarter of 2021, was $1.11, against $1.07 in Q3 2020.
Furthermore, in the third quarter, 13.3 million New Net Accounts were added, ending the quarter with a total of 416 million active accounts. The NNA’s showed an increase of 15% year over year.
