PYPL: Adding PayPal to Investing Ideas (Short Side)

03/03/20 03:40PM EST

Hedgeye CEO Keith McCullough is adding Paypal (PYPL) to the short side of Investing Ideas. Below is a brief note.

While Visa and Mastercard have already guided lower, Paypal (PYPL) hasn't ... pre-virus, this is what they said (i.e. not good vs. prior expectations). 

Looking forward, management provided 1Q20 guidance for adjusted EPS in the range of $0.76-$0.78, coming in below street expectations for $0.82. Likewise, first quarter top-line guidance of $4.78-$4.84B fell short of expectations for $4.85B.

Financials analyst Josh Steiner remains The Bear,

KM
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