Mizuho still rates PYPL$PayPal(PYPL)$ a Buy with a $175 price target, and Evercore is sticking with its Outperform and $245 price target:

"The lack of updated—or even reiterated—guidance represents the greatest near-term investor concern regarding PayPal, Evercore ISI analyst David Togut told Barron’s, especially only 14 days before its earnings.

“Management largely knows what first-quarter earnings were and presumably has a good idea of what its updated 2022 guidance will be,” Togut said. But he also remains optimistic about the stock, and rates it an Outperform with a price target of $245, citing the fact that it trades at a trough valuation of 18 times his 2023 earnings per share estimate.

Analysts at Mizuho Securities said in a research note after the news emerged on Tuesday that they still like PayPal stock. “We expect a negative stock reaction,” analyst Dan Dolev said. “However, we consider PYPL stock to be attractive from a valuation & strong brand presence perspective.” He rates the stock a Buy with a $175 price target.

From Walmart’s perspective, Rainey’s addition is a smart move. During his tenure at PayPal, he spoke numerous times with Barron’s about the company’s insights into consumer behavior, and the combination of that expertise with his knowledge of digital ecosystems speaks to the direction Walmart has been heading in recent years. The company has been investing in fintech, subscription services, advertising, and its third-party seller platform in its push to be an omnichannel leader beyond retail; these are areas that should dovetail with Rainey’s experience.

PayPal stock dropped 2.9% to $105.09 on Wednesday and has fallen 44% year to date. Walmart stock rose 2.6% to $157.22, and has gained 8.7% year to date. The company is expected to report earnings on April 27 after the market close.