PayPal's (PYPL) fourth-quarter earnings beat estimates, but guidance was"conservative," says Wedbush Securities Managing Director Moshe Katri. He says results were "a bit better than feared," though upside earnings contrasted with light forecasts. Per Katri, investors must "wait and see" what's driving the cautious outlook.
Katri notes competitive unknowns, asking what PayPal is doing on "innovation" against rivals like Apple Pay (AAPL). As Katri states, PayPal must "build up that ecosystem" in terms of products and services, to "cross-sell" and deepen monetization.
However, he notes PayPal suffers from an "execution issue," and not a "structural issue, problem" With a "robust consumer banking" unit, Katri sees PayPal's potential if it focuses on executing monetization. Despite muted guidance, he keeps an Outperform rating on solid underlying fundamentals.
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