Posted 9/18/2023, 12:31:00 PM
PayPal Faces Slowing Growth and Rising Competition Under New CEO
- PayPal faces growing competition from Apple Pay and Square's Cash App, limiting growth potential according to analyst
- New CEO Alex Chriss has challenges ahead like slowing Venmo growth and competitive pressures weighing on PayPal
- PayPal stock downgraded due to expectations for lackluster profit growth in low-to-mid single digits going forward
- Analyst cites uncertainty around aggressive Braintree pricing strategy as another challenge for PayPal
- Chriss taking over as CEO on Sept. 27, replacing Dan Schulman who will stay on PayPal board through May 2024
