Finance Enrique Lores Multinational digital payments company PayPal announced that HP’s chief executive Enrique Lores will succeed Alex Chriss as its next president and CEO. During a 20-year tenure at Intuit, the American technology firm behind Credit Karma and TurboTax, Chriss held various leadership roles. He was overseeing QuickBooks and Mailchimp as executive vice president and general manager of the Small Business and Self-Employed Group when he left in September 2023. The board thanked Chriss for ...

标普全球评级：贝宝（PayPal）首席执行官变更凸显战略挑战 。 来源：滚动播报 ...

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or ...

利润和营收不及预期，股价应声下跌——日前，国外科技支付巨头 PayPal 交出了一份让市场有所失望的财报。 几乎在同一时间，公司火速宣布"换帅"，其 CEO Alex Chriss 离任，由董事会成员、前 HP CEO Enrique Lores 接任。 这一连串动作来得非常迅速，也似乎对外在释放出一个清晰的信号：董事会已经失去了耐心。 回顾历史，PayPal 曾是全球最早实现大规模在线支付的公司之一，也是无数跨境电商、开发者和中小商户绕不开的 支付平台，素有"美版支付宝"之称。即便在 Apple Pay、Stripe 等新玩家崛起之后，PayPal 依然掌握着庞大的用户规 模、商户网络和支付流水。 对于一家曾长期被视为全球在线支付"基础设施"的公司来说，如此密集的震荡并不常见。这也让外界开始重新审 视： PayPal 是从什么时候开始，走到今天这一步的？ 对此，曾在 2012 至 2014 年担任 PayPal 总裁的 David Marcus，离开公司十二年后首次打破沉默，于 X 平台上发长 文，系统性地回顾自己眼中的 PayPal 的这些年。 David Marcus 谈及了自己 12 年前离开 Pay ...

Core Insights - PayPal Holdings Inc. has experienced a 20% decline in stock price and the removal of CEO Alex Chriss, prompting former president David Marcus to critique the company's shift towards a culture of "financial optimization" [1][2]. Company Culture and Leadership - David Marcus attributes PayPal's struggles to a transition from product-led innovation to a financially-driven leadership style, which he believes has diminished the company's competitive edge [2]. - Marcus expressed that the leadership's focus on predictability over innovation has led to a loss of the company's original "mojo" [3]. Product Strategy and Market Position - Marcus criticized PayPal's approach to the Buy Now, Pay Later (BNPL) service, stating that while competitors like Klarna and Affirm built strong consumer brands, PayPal treated BNPL merely as a feature rather than a core offering [4]. - This lack of strategic aggression in the BNPL space contributed to a slowdown in PayPal's core branded checkout growth, which fell to just 1%, described by management as a significant "execution shortfall" [4].

Now you can get access to the latest and highest-quality analysis of recent Wall Street buying and selling ideas with just one subscription to Beyond the Wall Investing ! There is a free trial and a special discount of 10% for you. Join us today!For years, I've been consistently wrong about PayPal Holdings' ( PYPL ) price action development. You can see from my coverage history that I upgraded PYPL to "Buy" on a solid risk/reward (it seemed to me soDaniel Sereda is chief investment analyst at a family offic ...

Group 1 - The analyst has over a decade of experience researching various companies across different sectors, including commodities like oil, natural gas, gold, and copper, as well as technology firms such as Google and Nokia [1] - The analyst has transitioned from writing a blog to creating a value investing-focused YouTube channel, where extensive research on hundreds of companies has been conducted [1] - The analyst expresses a particular interest in covering metals and mining stocks, while also being comfortable with other industries such as consumer discretionary/staples, REITs, and utilities [1]

Core Thesis - PayPal Holdings, Inc. is viewed as a compelling investment opportunity due to its strategic pivot under CEO Alex Chriss and significant market mispricing relative to intrinsic value, currently trading at a 29% discount to its DCF-based fair value [2] Growth Initiatives - Key growth initiatives include Fastlane by PayPal for one-click guest checkout, unbranded processing via Braintree for high-volume clients, monetization of Venmo through various integrations, and expansion into small and medium businesses with PayPal Open [3] - The DCF model assumes conservative explicit growth of 6–4% over ten years, with PayPal having never experienced revenue decline in the past decade [3] Financial Projections - Long-term growth is projected at 2.6%, with a WACC of 9.4%, a 10x EBITDA exit multiple, a 21% tax rate, and reinvestment based on a 1.1 Sales-to-Capital ratio [4] - The bull case emphasizes strong free cash flow, self-correcting valuation, underappreciated margin recovery, and improved user experience from platform simplification [4] Market Positioning - Despite slower growth, the market has over-discounted risk, creating a favorable entry point for investors [5] - PayPal's combination of discounted valuation, strategic initiatives, and resilient financial profile supports maintaining a modest position of 2–3% of a diversified portfolio [5] Historical Context - The stock price has depreciated by approximately 18.45% since previous coverage due to market concerns over slower margin expansion, but the current analysis emphasizes DCF-based upside and the importance of buybacks and margin normalization [6]

Group 1 - Novo Nordisk's semaglutide sales reached 250.84 billion yuan in 2025, with a year-on-year growth of over 10% [5] - The sales breakdown includes 127.09 billion Danish kroner for Ozempic, 79.11 billion for Wegovy, and 22.09 billion for oral semaglutide [5] - In China, the total sales for all three semaglutide products amounted to 6.81 billion Danish kroner (approximately 7.49 billion yuan) [5] Group 2 - The Hong Kong High Court rejected Xu Jiayin's appeal regarding the appointment of a receiver and ordered him to pay 1.2 million HKD in legal fees by February 20 [6] - The National Healthcare Security Administration is conducting collective interviews with mental health insurance institutions to strengthen management and combat misuse of insurance funds [6][7] Group 3 - Panasonic's CFO announced potential layoffs could expand to 12,000 employees, following a previous plan to cut 10,000 jobs globally [8] - Multiple small and medium-sized banks have announced increases in deposit rates ahead of the Spring Festival, while some banks have opted to lower rates [8] Group 4 - Walmart's market capitalization surpassed 1 trillion USD, with a stock price increase of over 24% in the past year [10] - PayPal announced that Enrique Lores will take over as CEO on March 1, aiming to enhance execution efficiency and advance strategic initiatives [11] Group 5 - AMD reported a fourth-quarter net profit of 2.52 billion USD, with a year-on-year growth of 42% and revenue of 10.27 billion USD, exceeding market expectations [23] - Alphabet's fourth-quarter net profit was 34.455 billion USD, a 29.8% increase year-on-year, with total revenue of 113.83 billion USD [21]

Core Insights - PayPal Holdings, Inc. is under investigation for potential securities claims due to a significant discrepancy between its prior outlook and actual fourth quarter 2025 results [1] Group 1: Analyst Expectations and Company Communications - On January 28, 2026, Rothschild & Co Redburn downgraded PayPal's price target from $70 to $50, followed by Morgan Stanley on January 29, 2026, citing slower checkout growth [2] - Analysts had projected mid-single-digit revenue growth and higher earnings per share just one day before the earnings announcement on February 2, 2026 [2] Group 2: Actual Financial Results - PayPal's actual revenue for the fourth quarter 2025 was $8.68 billion, missing the estimate of $8.80 billion by $120 million, representing a 1.4% shortfall [3] - Adjusted earnings per share were reported at $1.23, falling short of the consensus range of $1.30 to $1.33 by 5.4% to 7.5% [3] - The company's forward guidance for 2026 indicated a decline in transaction margin dollars and an adjusted earnings per share range reflecting a low single-digit decline to a slight positive gain, significantly below market expectations [3] Group 3: Management Communication and Market Reaction - During the third quarter 2025 earnings call on October 28, 2025, management did not signal any forthcoming dramatic revisions to the company's outlook [4] - Following the earnings miss on February 3, 2026, PayPal shares dropped 19-20% to approximately $42, marking a new 52-week low, with a reported increase in short interest as traders anticipated further declines [5]