PayPal could still underperform expectations despite a reset with a new chief executive, according to MoffetNathanson.
The firm downgraded PayPal stock to market perform from outperform in a Monday note, and lowered its price target to $75 per share.
PayPal stock has slipped nearly 10% from the start of the year and was off 1.4% in premarket trading Monday.
PYPL YTD mountain PayPal stock.
Analyst Lisa Ellis says that despite the potentially promising fresh start for the company with new chief executive and former Intuit CEO Alex Chriss on Sept. 27 , PayPal will still underperform MoffetNathanson estimates. "
Persons:
Lisa Ellis, Alex Chriss, Ellis, — CNBC's Michael Bloom
Organizations:
PayPal, Apple
Locations:
Venmo