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2022-04-13

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PayPal Stock Drops over 3% on News CFO is Leaving to Join Walmart

Walmart announced yesterday that PayPal’s CFO John Rainey will join the company.Rainey serves as Pa

PayPal Stock Drops over 3% on News CFO is Leaving to Join Walmart

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Negatives: lack of direct Retail experience and omni-channel/store operational expertise,” Gutman said in a client note.</p><p>On the other hand, Gutman’s colleague and PYPL analyst at Morgan Stanley, James Faucette, says that Rainey’s exit is a “mixed update.”</p><p>“John Rainey&#39;s departure may be perceived as negative signaling, and could potentially refresh fears around the company&#39;s ability to sustain above market growth and reach financial targets, which include rapidly accelerating revenue growth throughout 2022 and a medium-term outlook for ~20% revenue growth and ~22% EPS growth. At the same time, there may be some relief among investors as there had been speculation around a change in senior leadership given recent earnings misses and related selloffs of PayPal&#39;s stock,” Faucette wrote in a memo.</p><p>Bank of America analyst Jason Kupferberg is more negative on PYPL than Faucette.</p><p>“Notably, PYPL did not reiterate guidance in today&#39;s announcement, which adds uncertainty heading into earnings on 4/27. Though valuation remains near all-time lows, we see limited visibility on PYPL&#39;s 2H ramp &amp; normalized earnings power,” Kupferberg wrote in a memo.</p><p>The analyst reiterated a Neutral rating as he believes PYPL shares will continue to trade in a range-bound mode until investors can better understand the company’s new strategy.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PayPal Stock Drops over 3% on News CFO is Leaving to Join Walmart</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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Negatives: lack of direct Retail experience and omni-channel/store operational expertise,” Gutman said in a client note.</p><p>On the other hand, Gutman’s colleague and PYPL analyst at Morgan Stanley, James Faucette, says that Rainey’s exit is a “mixed update.”</p><p>“John Rainey&#39;s departure may be perceived as negative signaling, and could potentially refresh fears around the company&#39;s ability to sustain above market growth and reach financial targets, which include rapidly accelerating revenue growth throughout 2022 and a medium-term outlook for ~20% revenue growth and ~22% EPS growth. At the same time, there may be some relief among investors as there had been speculation around a change in senior leadership given recent earnings misses and related selloffs of PayPal&#39;s stock,” Faucette wrote in a memo.</p><p>Bank of America analyst Jason Kupferberg is more negative on PYPL than Faucette.</p><p>“Notably, PYPL did not reiterate guidance in today&#39;s announcement, which adds uncertainty heading into earnings on 4/27. Though valuation remains near all-time lows, we see limited visibility on PYPL&#39;s 2H ramp &amp; normalized earnings power,” Kupferberg wrote in a memo.</p><p>The analyst reiterated a Neutral rating as he believes PYPL shares will continue to trade in a range-bound mode until investors can better understand the company’s new strategy.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal","WMT":"沃尔玛"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194192237","content_text":"Walmart  announced yesterday that PayPal’s CFO John Rainey will join the company.Rainey serves as PayPal’s head of finances and is expected to take on his role at Walmart on June 6, succeeding Bret Biggs, who announced his decision to step down in November.Biggs will step down from his duty in June, though he will remain the company’s advisor through January 31.Rainey “has a proven track record of leading change at scale in customer service organizations innovating in their fields,” said Walmart CEO Doug McMillon.Before joining PayPal, Rainey served as the CFO of United Airlines.“I’m confident that John’s mix of financial and digital acumen, coupled with his experience leading finance in complex, highly competitive industries, will help us deliver for our customers and shareholders as we continue to transform our company,” McMillon said.The appointment comes as Walmart continues to identify and unlock new revenue-driving opportunities, such as its plan to expand its third-party marketplace and upgrade its advertising business.The retail giant has also recently created and backed a financial technology startup spearheaded by former Goldman Sachs bankers.Morgan Stanley analyst Simeon Gutman commented that Rainey is a “high quality hire.”“Positives: strong reputation, fintech/tech background, established CFO track record at two large public companies. Negatives: lack of direct Retail experience and omni-channel/store operational expertise,” Gutman said in a client note.On the other hand, Gutman’s colleague and PYPL analyst at Morgan Stanley, James Faucette, says that Rainey’s exit is a “mixed update.”“John Rainey's departure may be perceived as negative signaling, and could potentially refresh fears around the company's ability to sustain above market growth and reach financial targets, which include rapidly accelerating revenue growth throughout 2022 and a medium-term outlook for ~20% revenue growth and ~22% EPS growth. At the same time, there may be some relief among investors as there had been speculation around a change in senior leadership given recent earnings misses and related selloffs of PayPal's stock,” Faucette wrote in a memo.Bank of America analyst Jason Kupferberg is more negative on PYPL than Faucette.“Notably, PYPL did not reiterate guidance in today's announcement, which adds uncertainty heading into earnings on 4/27. Though valuation remains near all-time lows, we see limited visibility on PYPL's 2H ramp & normalized earnings power,” Kupferberg wrote in a memo.The analyst reiterated a Neutral rating as he believes PYPL shares will continue to trade in a range-bound mode until investors can better understand the company’s new strategy.","news_type":1},"isVote":1,"tweetType":1,"viewCount":260,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}