Shares of PayPal Holdings (NASDAQ:PYPL) gained 1.14% in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2023. Earnings per share came in at $1.30, which beat analysts’ consensus estimate of $1.23 per share.
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The California-based company’s revenue hit $7.42 billion, which beat analysts’ expectations by $40 million. For reference, analysts were expecting $7.38 billion in revenue.
Looking forward, management expects adjusted earnings per share for Q4 2023 to be $1.36 versus the analyst consensus of $1.41. In addition, the company projects earnings for the entire year to be about $4.98, higher than analysts’ expectation of $4.92.
Is PYPL a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on PYPL stock based on 13 Buys, four Holds, and zero Sells assigned in the past three months, as indicated by the graphic above. Furthermore, the average PYPL price target of $86.12 per share implies a 66.83% upside potential.