BTIG analyst Andrew Harte says the firm is surprised to see PayPal’s (PYPL) shares trading down about 9% on Tuesday morning following its Q2 report. The price reaction is more a function of high investor expectations paired with an underwhelming second half of the year outlook, rather than a weak Q2 print, in BTIG’s view. Overall, the firm says it is more positive on the company’s outlook than we were a year ago as growth initiatives are clearly coming together. BTIG has a Neutral rating on PayPal.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PYPL: