Statement of Financial Condition | About Asset Protection | Account Agreements and Disclosures | Quarterly 606 Report | Business Resiliency Plan System response and account access times may vary due to a variety of factors, including trading volumes, market conditions, system performance, and other factors. Throughout 2023, ETS and ETCM will be transitioning existing clients to MSSB. All entities are separate but affiliated subsidiaries of Morgan Stanley. Banking products and services are provided by Morgan Stanley Private Bank, National Association, Member FDIC. Stock plan administration solutions and services offered by E*TRADE Financial Corporate Services, Inc. Commodity futures and options on futures products and services offered by E*TRADE Futures LLC, Member NFA. Investment advisory services offered by E*TRADE Capital Management, LLC (ETCM) or MSSB. CNBC's MacKenzie Sigalos contributed to this report.Securities products offered by E*TRADE Securities LLC (ETS), Member SIPCor Morgan Stanley Smith Barney LLC (MSSB), Member SIPC. In a report after PayPal's results, analysts at Wedbush Securities reduced their price target to $240 from $330, in part because they said the "eBay transition continues to impact healthy metrics." They maintained their buy rating on the stock. PayPal said volume on eBay marketplaces dropped 45% in the quarter and now represents less than 4% of revenue. Six years after the companies split apart, eBay is in the process of transitioning sellers off PayPal and onto its own payment system. In addition to macroeconomic concerns, PayPal is preparing for an eBay -less future. They said the headwinds appear "transitory," extending just through early next year, and described the Amazon deal as a "potential game changer." "Our sense is that management may feel a bit snake bitten (as many have) by the abrupt turnaround in demand in many sectors, especially travel that accompanied the Delta variant surge," the JMP analysts wrote on Tuesday. JMP Securities also held its buy recommendation, but lowered its target to $260 from $300. The shares are currently trading around $201, their lowest in close to a year. The firm maintained its buy rating on stock while lowering its price target on to $275 from $325. Davidson, in a note to clients on Tuesday. "PYPL was one of the pandemic's biggest beneficiaries, but the uneven global macro recovery amid supply chain issues as well as tough comps are challenging growth prospects," wrote analysts at D.A. Multiple analysts lowered their price targets after the call. "But obviously, only a select few deals will meet our very strict financial, strategic and capital allocation criteria." "Exploring all potential opportunities to enhance shareholder value is our responsibility," he said. Schulman addressed the matter on Monday's call, without naming Pinterest. PayPal later said that it wasn't looking to buy Pinterest. Investors started turning bearish on PayPal last month following reports that the company was in late-stage talks to acquire social media app Pinterest. It's now down 14% in 2021, while the Nasdaq is up 23% for the year. The stock surged during in 2020 as consumers turned to e-commerce during the height of the pandemic. PayPal had already missed estimates on third-quarter revenue and lowered its forecast for the current year. "We are seeing the impact of global supply chain shortages in our merchant base, consumer confidence is weakened with the absence of stimulus payments, and with the economy reopening, more people may be likely to do their holiday shopping in-store," Schulman said on the call. Analysts were projecting revenue of $31.6 billion, according to Refinitiv. The company said revenue for fiscal 2022 will increase about 18%, which would equal full-year sales of close to $30 billion. However, that optimism quickly faded during the earnings call, when PayPal CEO Dan Schulman gave guidance for next year. Starting next year, PayPal users will be able to make purchases on and the Amazon mobile shopping app with their Venmo accounts. Investors initially cheered PayPal's third-quarter earnings report, not because of the results, but because of a partnership the company announced between its Venmo payment app and Amazon. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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