![]() ![]() Inflation is likely to remain bad news for the Californian-based fintech leader. PayPal stock outlook: Rate hikes and increased competition The gain was short-lived and PYPL resumed its decline. The stock had managed to book its biggest gain in a single day this year, closing 11.48% higher on 28 April, a day after it reported that revenue in the first quarter of 2022 was above analysts’ expectations. PYPL fell nearly 25% in a single day for the first time this year on 2 February, after the company announced financial results for the fourth quarter of the fiscal year 2021. ![]() PayPal (PYPL) technical analysisĪ PayPal stock analysis by Trading View showed PayPal’s closing price on 26 October was nearly 71.3% below its all-time high closing price of $308.53 a share, achieved on 23 July 2021. This article examines whether other factors have affected PYPL’s ongoing downtrend, the latest stock news and PayPal’s share price forecast from analysts. However, it recorded a weekly gain of 4.97%, outperforming the Nasdaq, which rose by 2.92% in one week, according to TradingView. As a result, it has dropped more than 53% year to date ( YTD) and declined nearly 64.5% year over year ( YoY ), lagging the Nasdaq index ( US100 ), which has fallen 30.4% this year and 26.96% YoY.Īt the time of writing (27 October), PayPal’s stock dropped 0.77% to $88.55 at close on 26 October. The headwinds have continued to pressure the PYPL stock price, erasing a 116.5% gain in 2020 when the pandemic hit. The ongoing Russia-Ukraine war has raised the prices for food and energy, exacerbated inflation and prompted investors to dump growth stocks, especially in technology companies. Soaring inflation – which briefly hit the highest level in four decades in the US – has forced consumers to cut spending. The end of Covid-19 restrictions in most countries has seen less online shopping and a reduction in the need for digital payment. PayPal is operating in a market where tech growth stocks are being dumped – Photo: rafapress / Īs 2022 draws to a close, the stock price of payment giant PayPal ( PYPL ) has yet to reverse its downtrend. ![]()
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