PayPal slides after downbeat annual forecast, CEO change

PayPal Holdings

03/02/2026 13:17

Updates

** Shares of payments firm PayPal PYPL.O fall 15.6% to $44.20 premarket

** PYPL expects full-year adjusted profit to range between a low-single-digit percentage decline and a slight increase, compared with Wall Street estimates of about an 8% growth, according to data compiled by LSEG

** Separately, PYPL appoints HP CEO Enrique Lores as its new chief, succeeding Alex Chriss

** "While some progress has been made in a number of areas over the last two years, the pace of change and execution was not in line with the board's expectations," PYPL says

** "While certainly a reputable executive, the big question is whether he (Lores) will bring in a formidable payments team to attempt yet another multi-year turnaround or look to start reviewing options for strategic assets," says Evercore analyst Adam Frisch

** 15 of 44 brokerages rate the stock "buy" or higher, 24 "hold" and five "sell" or lower; their median PT is $69 - LSEG-compiled data

** As of last close, PYPL stock down 10.4% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))