PayPal downgraded to Neutral from Buy at Monness Crespi

Monness Crespi downgraded PayPal (PYPL) to Neutral from Buy. The firm believes the long-term bull case is still in play, but with current estimates for calendar 2026 not taken down enough, “less than promising” intra-quarter comments, elongated ramps, and building weakness in the 90% of consumers in U.S. that comprise 50% of spend, the firm expects “more compelling entry points likely on the horizon.” The firm says it should have taken profit when the stock rose on “low hanging fruit” fixes like stimulating Venmo monetization, rather than taking it as a sign of moat widening, the analyst added.