PayPal Holdings, Inc. operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company was founded in 1998 and is headquartered in San Jose, California.

PayPal Holdings, Inc.

The S&P 500 Index ($SPX) (SPY) is up +0.08%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.53%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.30%. December E-mini S&P futures (ESZ25) are up +0.11%, and December E-mini Nasdaq futures (NQZ25) are up +0.34%.
US stocks are slightly higher ahead of Wednesday's results of the 2-day FOMC meeting, which begins today. The markets are discounting a 98% chance of a -25 bp rate cut at this week's FOMC meeting. Assuming the Fed proceeds with this week's -25 bp rate cut, the markets are then discounting a 94% chance of another -25 bp rate cut at the next FOMC meeting on December 10. The markets are discounting an overall 115 bp rate cut by the end of 2026 to 2.95% from the current effective federal funds rate of 4.10%.
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The FOMC at this week's meeting is not scheduled to release a Summary of Economic Projections, which contains the Fed's dot plot. That means the markets on Wednesday will hear from Fed Chair Powell at his regular post-meeting press conference, but will not receive an update from other Fed officials on their views of the future course of interest rates.
However, markets are hoping for an update on when the Fed might end its quantitative tightening, which involves allowing its balance sheet to decline. A halt to the Fed's quantitative tightening would be bullish for the stock and bond markets, as the Fed would no longer be draining liquidity from the US financial system.
The Aug FHFA US house price index rose +0.4% m/m, which was stronger than expectations of -0.1%. Meanwhile, the S&P Cotality CS US 20-city house index rose by +0.19% m/m and +1.58% y/y, which was stronger than expectations of -0.10% m/m and +1.30% y/y.
The Oct Richmond Fed manufacturing index rose 13 points to -4, which was stronger than market expectations of a 5 point rise to -12.
The Oct Conference Board US consumer confidence index fell -1.0 point to 94.6 from a revised 95.6, which was stronger than expectations of 93.4.
Stocks have carry-over support from Monday's news that US and Chinese negotiators, who met over the weekend in Malaysia, reached a tentative trade agreement that is expected to be officially announced at Thursday's summit between Presidents Trump and Xi on the sidelines of the APEC conference in South Korea. Treasury Secretary Bessent said the agreement means the US threat of a 100% tariff on US imports from China, set to start November 1, is "effectively off the table." Meanwhile, China agreed not to restrict the export of rare earth metals for at least one year and to buy a "substantial" amount of US soybeans. The two sides also made progress on shipping fees and US demands that China crack down on the export to the US of fentanyl and precursors. The two sides may also reach an agreement that would allow US consumers to continue to access TikTok.
This is a heavy earnings week, with 173 of the S&P 500 companies reporting earnings. Notably, five of the Magnificent Seven companies report earnings this week. Alphabet, Meta, and Microsoft report on Wednesday, and Apple and Amazon.com report on Thursday. Q3 earnings have been running strong so far. According to Bloomberg Intelligence, 84% of the S&P 500 companies that have reported so far have beaten forecasts, on course for the best quarter since 2021. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from +6.4% in Q2.
The markets are monitoring US-Canada trade relations after President Trump said on Saturday that he would impose a new 10% tariff on US imports from Canada as punishment for last week's anti-tariff advertisement released by the provincial government of Ontario that featured former President Reagan's criticism of tariffs. Mr. Trump initially said he was halting US trade negotiations with Canada because of the ad, but he escalated the punishment this past weekend by imposing a new 10% tariff, even though Ontario had agreed to pause the ad campaign.
Regarding President Trump's reciprocal tariffs, markets are looking ahead to oral arguments at the Supreme Court scheduled for November 5 on whether the tariffs are legal. Lower courts have already ruled that Mr. Trump's reciprocal tariffs are illegal, finding they are based on a specious claim of emergency authority. If the US Supreme Court upholds those rulings and strikes down the tariffs, then the US government will have to refund the reciprocal tariffs already collected, and Mr. Trump's power to impose tariffs will be limited to well-founded sections of US trade law. Observers expect the US Supreme Court to announce its final ruling on the reciprocal tariffs by late 2025 or early 2026.
The US government shutdown continues into its fifth week, weighing on market sentiment and the US economy. The government shutdown is delaying the release of government reports, including all the recent weekly unemployment claims reports, the September unemployment and payroll report, Aug trade balance, Sep retail sales, Sep PPI, Sep housing starts, Sep industrial production, Sep leading indicators, and others. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
Overseas stock markets today are lower. The Euro Stoxx 50 is down -0.08%. China's Shanghai Composite closed down -0.22% after Monday's rally of +1.18%. Japan's Nikkei Stock 225 closed down -0.58% after Monday's rally of +2.46%.
Interest Rates
December 10-year T-notes (ZNZ5) are up +0.5 tick. The 10-year T-note yield is up +0.2 bp at 3.981%. T-note prices are trading on a cautious note ahead of Wednesday's FOMC decision. T-note prices are being undercut by carry-over pressure from Monday's news of a US-Chinese trade agreement, which reduced safe-haven demand for Treasury securities. Also, T-note prices are being undercut by today's stronger-than-expected Richmond Fed report and US consumer confidence report.
T-note prices have underlying support from the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates.
European government bond yields are mixed. The 10-year German bund yield is up +0.3 bp at 2.619%. The 10-year UK gilt yield is down -1.1 bp at 4.391%.
Swaps are discounting a 1% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
The Magnificent Seven stocks are mixed, with Microsoft (MSFT) and Tela (TSLA) showing gains of more than +2%. Microsoft is trading higher after news that it will receive a 27% ownership stake worth about $135 billion in the restructured for-profit OpenAI entity.
Intel (INTC) is up more than +5%, but most of the other chip stocks are showing losses, giving back some of Monday's gains.
PayPal (PYPL) is up more than +10%, and is the largest gainer in the Nasdaq 100 index, on a CNBC report that Open AI has agreed to embed Paypal's digital wallet into ChatGPT.
UPS (UPS) is up more than +7% after reporting favorable adjusted earnings.
D.R. Horton (DHI) is down about -1% after reporting an earnings miss.
Royal Caribbean (RCL) is down more than -7% after an earnings miss.
Earnings Reports(10/28/2025)
DR Horton Inc (DHI), PayPal Holdings Inc (PYPL), UnitedHealth Group Inc (UNH), Wayfair Inc (W), Labcorp Holdings Inc (LH), Corning Inc (GLW), Armstrong World Industries Inc (AWI), Sysco Corp (SYY), Royal Caribbean Cruises Ltd (RCL), VF Corp (VFC), Carrier Global Corp (CARR), A O Smith Corp (AOS), United Parcel Service Inc (UPS), Hubbell Inc (HUBB), Sherwin-Williams Co/The (SHW), Ecolab Inc (ECL), Zebra Technologies Corp (ZBRA), IQVIA Holdings Inc (IQV), MSCI Inc (MSCI), Smithfield Foods Inc (SFD), Tenet Healthcare Corp (THC), Applied Industrial Technologie (AIT), Axalta Coating Systems Ltd (AXTA), Repligen Corp (RGEN), Xylem Inc/NY (XYL), Invesco Ltd (IVZ), SoFi Technologies Inc (SOFI), Regeneron Pharmaceuticals Inc (REGN), American Tower Corp (AMT), Incyte Corp (INCY), ATI Inc (ATI), NextEra Energy Inc (NEE), Neurocrine Biosciences Inc (NBIX), Booking Holdings Inc (BKNG), Mondelez International Inc (MDLZ), Sensata Technologies Holding P (ST), WP Carey Inc (WPC), Enphase Energy Inc (ENPH), Aurora Innovation Inc (AUR), Landstar System Inc (LSTR), Equity Residential (EQR), ONEOK Inc (OKE), Flowserve Corp (FLS), Caesars Entertainment Inc (CZR), Edison International (EIX), CoStar Group Inc (CSGP), Frontier Communications Parent (FYBR), MSA Safety Inc (MSA), Chemed Corp (CHE), Range Resources Corp (RRC), BXP Inc (BXP), PPG Industries Inc (PPG), RenaissanceRe Holdings Ltd (RNR), Regency Centers Corp (REG), ExlService Holdings Inc (EXLS), Veralto Corp (VLTO), Visa Inc (V), Expand Energy Corp (EXE), Seagate Technology Holdings PL (STX), Element Solutions Inc (ESI), Highwoods Properties Inc (HIW), Electronic Arts Inc (EA), Teradyne Inc (TER).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks See Support Ahead of Wednesday's FOMC Decision

PayPal Holdings PYPL reported third-quarter 2025 non-GAAP earnings per share (EPS) of $1.34, which surpassed the Zacks Consensus Estimate of $1.19 and jumped 11.7% year over year.
Reflecting positive sentiments, shares of PYPL were up more than 11% on the NYSE at the time of posting this article. Results reflected better-than-expected growth in revenues. PayPal witnessed an uptick in both total payment volume (TPV) and revenues year over year, along with another quarter of high single-digit growth in transaction margin dollars. With such results, the company raised its full-year guidance for non-GAAP EPS and transaction margin dollars. However, its total number of payment transactions declined in the reported quarter.
Net revenues of $8.42 billion increased 7.3% year over year on a reported basis and 6% on a forex-neutral basis. The figure topped the Zacks Consensus Estimate of $8.26 billion.
PayPal Holdings, Inc. Price, Consensus and EPS Surprise
PYPL’s Revenue Details
TPV was $458.09 billion for the third quarter, up 8.4% year over year on a reported basis and 7% on a forex-neutral basis.
The transaction margin in dollar terms was $3.87 billion, which grew 5.9% on a reported basis. Excluding interest on customer balances, transaction margin dollars increased 7.1% to $3.55 billion.
Transaction revenues were $7.52 billion (89.4% of net revenues), up 6.4% year over year. Value Added Services revenues were $895 million (10.6% of net revenues), which rose 14.7% year over year.
Net revenues from the United States totaled $4.75 billion (56.5% of net revenues), up 5.2% on a year-over-year basis. International net revenues were $3.66 billion (43.5% of net revenues), up 10.1% year over year on a reported basis and 7% on a forex-neutral basis.
PayPal witnessed year-over-year growth of 1.4% in total active accounts to 438 million in the reported quarter. The total number of payment transactions was 6.33 billion, down 4.5% on a year-over-year basis. PYPL’s payment transactions per active account were 57.6, which dropped 6.2% year over year.
PYPL’s Operating Details
PayPal’s operating expenses were $6.90 billion in the third quarter, up 6.8% year over year. However, the operating margin expanded 33 basis points year over year to 18.1%.
The transaction expense rate was 0.89% in the third quarter compared with 0.91% reported in the year-ago quarter.
The transaction margin shrank 60 basis points to 46%.
PYPL’s Balance Sheet Remains Strong
As of Sept. 30, 2025, cash, cash equivalents and investments were $14.4 billion. The long-term debt balance was $11.4 billion.
PYPL generated $2 billion in cash from operations, while adjusted free cash flow was $2.3 billion in the third quarter of 2025.
The company returned $1.5 billion to shareholders through share repurchases in the quarter.
PayPal Raises 2025 Guidance
For 2025, PayPal anticipates non-GAAP EPS between $5.35-$5.39 per share, calling for 15-16% growth year over year. This is up from the prior guided range of $5.15-$5.30.
The transaction margin dollar is expected between $15.45 billion and $15.55 billion, suggesting growth in the 5-6% range. This is ahead of the prior projection of $15.35 billion-$15.5 billion.
Non-GAAP non-transaction operating expenses are expected to grow approximately 3%.
Free cash flow is expected to be between $6 billion and $7 billion. Share repurchase is expected to be roughly $6 billion.
For the fourth quarter of 2025, PayPal expects non-GAAP EPS between $1.27 and $1.31.
Transaction margin dollars are expected between $4.02 billion and $4.12 billion, suggesting growth in the 2-5% range for the current quarter.
PYPL’s Zacks Rank & Upcoming Earnings Releases
Currently, PayPal carries a Zacks Rank #3 (Hold).
We now look forward to the earnings release of other stocks in the Financial Transaction Services industry — Mastercard Incorporated MA and Fidelity National Information Services, Inc. FIS. While Mastercard is scheduled to report on Oct. 30, Fidelity National Information Services is slated to report on Nov. 5.
The Zacks Consensus Estimate for Mastercard’s third-quarter 2025 EPS stands at $4.31, indicating a 10.8% increase year over year. The consensus mark for Fidelity National Information Services’ third-quarter EPS is pegged at $1.48, implying a 5.7% increase year over year.
Both MA and FIS carry a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

PYPL Shares Rise on Q3 Earnings Beat, 2025 EPS Guidance Raised

The S&P 500 Index ($SPX) (SPY) is up +0.22%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.61%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.39%. December E-mini S&P futures (ESZ25) are up +0.25%, and December E-mini Nasdaq futures (NQZ25) are up +0.31%.
US stocks are slightly higher ahead of Wednesday's results of the 2-day FOMC meeting, which begins today. The markets are discounting a 98% chance of a -25 bp rate cut at this week's FOMC meeting. Assuming the Fed proceeds with this week's -25 bp rate cut, the markets are then discounting a 94% chance of another -25 bp rate cut at the next FOMC meeting on December 10. The markets are discounting an overall 115 bp rate cut by the end of 2026 to 2.95% from the current effective federal funds rate of 4.10%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
The FOMC at this week's meeting is not scheduled to release a Summary of Economic Projections, which contains the Fed's dot plot. That means the markets on Wednesday will hear from Fed Chair Powell at his regular post-meeting press conference, but will not receive an update from other Fed officials on their views of the future course of interest rates.
However, markets are hoping for an update on when the Fed might end its quantitative tightening, which involves allowing its balance sheet to decline. A halt to the Fed's quantitative tightening would be bullish for the stock and bond markets, as the Fed would no longer be draining liquidity from the US financial system.
The Aug FHFA US house price index rose +0.4% m/m, which was stronger than expectations of -0.1%. Meanwhile, the S&P Cotality CS US 20-city house index rose by +0.19% m/m and +1.58% y/y, which was stronger than expectations of -0.10% m/m and +1.30% y/y.
The Oct Richmond Fed manufacturing index rose 13 points to -4, which was stronger than market expectations of a 5 point rise to -12.
The Oct Conference Board US consumer confidence index fell -1.0 point to 94.6 from a revised 95.6, which was stronger than expectations of 93.4.
Stocks have carry-over support from Monday's news that US and Chinese negotiators, who met over the weekend in Malaysia, reached a tentative trade agreement that is expected to be officially announced at Thursday's summit between Presidents Trump and Xi on the sidelines of the ASEAN conference in Malaysia. Treasury Secretary Bessent said the agreement means the US threat of a 100% tariff on US imports from China, set to start November 1, is "effectively off the table." Meanwhile, China agreed not to restrict the export of rare earth metals for at least one year and to buy a "substantial" amount of US soybeans. The two sides also made progress on shipping fees and US demands that China crack down on the export to the US of fentanyl and precursors. The two sides may also reach an agreement that would allow US consumers to continue to access TikTok.
This is a heavy earnings week, with 173 of the S&P 500 companies reporting earnings. Notably, five of the Magnificent Seven companies report earnings this week. Alphabet, Meta, and Microsoft report on Wednesday, and Apple and Amazon.com report on Thursday. Q3 earnings have been running strong so far. According to Bloomberg Intelligence, 84% of the S&P 500 companies that have reported so far have beaten forecasts, on course for the best quarter since 2021. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from +6.4% in Q2.
The markets are monitoring US-Canada trade relations after President Trump said on Saturday that he would impose a new 10% tariff on US imports from Canada as punishment for last week's anti-tariff advertisement released by the provincial government of Ontario that featured former President Reagan's criticism of tariffs. Mr. Trump initially said he was halting US trade negotiations with Canada because of the ad, but he escalated the punishment this past weekend by imposing a new 10% tariff, even though Ontario had agreed to pause the ad campaign.
Regarding President Trump's reciprocal tariffs, markets are looking ahead to oral arguments at the Supreme Court scheduled for November 5 on whether the tariffs are legal. Lower courts have already ruled that Mr. Trump's reciprocal tariffs are illegal, finding they are based on a specious claim of emergency authority. If the US Supreme Court upholds those rulings and strikes down the tariffs, then the US government will have to refund the reciprocal tariffs already collected, and Mr. Trump's power to impose tariffs will be limited to well-founded sections of US trade law. Observers expect the US Supreme Court to announce its final ruling on the reciprocal tariffs by late 2025 or early 2026.
The US government shutdown continues into its fifth week, weighing on market sentiment and the US economy. The government shutdown is delaying the release of government reports, including all the recent weekly unemployment claims reports, the September unemployment and payroll report, Aug trade balance, Sep retail sales, Sep PPI, Sep housing starts, Sep industrial production, Sep leading indicators, and others. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
Overseas stock markets today are steady to lower. The Euro Stoxx 50 is little changed. China's Shanghai Composite closed down -0.22% after Monday's rally of +1.18%. Japan's Nikkei Stock 225 closed down -0.58% after Monday's rally of +2.46%.
Interest Rates
December 10-year T-notes (ZNZ5) are down -2 ticks. The 10-year T-note yield is up +1.1 bp at 3.991%. T-note prices are trading on a cautious note ahead of Wednesday's FOMC decision. T-note prices are also being undercut by carry-over pressure from Monday's news of a US-Chinese trade agreement, which reduced safe-haven demand for Treasury securities. Also, T-note prices are being undercut by today's +0.3 bp rise in the 10-year breakeven inflation expectations rate to 2.290%.
T-note prices have underlying support from the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates.
European government bond yields are mixed. The 10-year German bund yield is up +0.2 bp at 2.617%. The 10-year UK gilt yield is down -1.1 bp at 4.391%.
Swaps are discounting a 1% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
The Magnificent Seven stocks are all trading higher, led by a gain of more than +2% in Microsoft (MSFT) and a gain of more than +1% in Nvidia (NVDA).
Nvidia (NVDA), Marvell Technology (MRVL), and Intel (INTC) are up more than +1%, but most of the other chip stocks are showing losses, giving back some of Monday's gains.
UPS (UPS) is up more than +9% after reporting favorable adjusted earnings.
PayPal (PYPL) is up more than +9% on a CNBC report that Open AI has agreed to embed Paypal's digital wallet into ChatGPT.
D.R. Horton (DHI) is down more than -3% after reporting an earnings miss.
Royal Caribbean (RCL) is down more than -7% after an earnings miss.
Earnings Reports(10/28/2025)
DR Horton Inc (DHI), PayPal Holdings Inc (PYPL), UnitedHealth Group Inc (UNH), Wayfair Inc (W), Labcorp Holdings Inc (LH), Corning Inc (GLW), Armstrong World Industries Inc (AWI), Sysco Corp (SYY), Royal Caribbean Cruises Ltd (RCL), VF Corp (VFC), Carrier Global Corp (CARR), A O Smith Corp (AOS), United Parcel Service Inc (UPS), Hubbell Inc (HUBB), Sherwin-Williams Co/The (SHW), Ecolab Inc (ECL), Zebra Technologies Corp (ZBRA), IQVIA Holdings Inc (IQV), MSCI Inc (MSCI), Smithfield Foods Inc (SFD), Tenet Healthcare Corp (THC), Applied Industrial Technologie (AIT), Axalta Coating Systems Ltd (AXTA), Repligen Corp (RGEN), Xylem Inc/NY (XYL), Invesco Ltd (IVZ), SoFi Technologies Inc (SOFI), Regeneron Pharmaceuticals Inc (REGN), American Tower Corp (AMT), Incyte Corp (INCY), ATI Inc (ATI), NextEra Energy Inc (NEE), Neurocrine Biosciences Inc (NBIX), Booking Holdings Inc (BKNG), Mondelez International Inc (MDLZ), Sensata Technologies Holding P (ST), WP Carey Inc (WPC), Enphase Energy Inc (ENPH), Aurora Innovation Inc (AUR), Landstar System Inc (LSTR), Equity Residential (EQR), ONEOK Inc (OKE), Flowserve Corp (FLS), Caesars Entertainment Inc (CZR), Edison International (EIX), CoStar Group Inc (CSGP), Frontier Communications Parent (FYBR), MSA Safety Inc (MSA), Chemed Corp (CHE), Range Resources Corp (RRC), BXP Inc (BXP), PPG Industries Inc (PPG), RenaissanceRe Holdings Ltd (RNR), Regency Centers Corp (REG), ExlService Holdings Inc (EXLS), Veralto Corp (VLTO), Visa Inc (V), Expand Energy Corp (EXE), Seagate Technology Holdings PL (STX), Element Solutions Inc (ESI), Highwoods Properties Inc (HIW), Electronic Arts Inc (EA), Teradyne Inc (TER).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

At Holdings Channel, we have reviewed the latest batch of the 26 most recent 13F filings for the 09/30/2025 reporting period, and noticed that PayPal Holdings Inc (Symbol: PYPL) was held by 12 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look.
Before we proceed, it is important to point out that 13F filings do not tell the whole story, because these funds are only required to disclose their long positions with the SEC, but are not required to disclose their short positions. A fund making a bearish bet against a stock by shorting calls, for example, might also be long some amount of stock as they trade around their overall bearish position. This long component could show up in a 13F filing and everyone might assume the fund is bullish, but this tells only part of the story because the bearish/short side of the position is not seen.
Having given that caveat, we believe that looking at groups of 13F filings can be revealing, especially when comparing one holding period to another. Below, let's take a look at the change in PYPL positions, for this latest batch of 13F filers:
Fund
New Position?
Change In Share Count
Change In Market Value ($ in 1000's)
Aggregate Change:
+39,511
-$365
In terms of shares owned, we count 4 of the above funds having increased existing PYPL positions from 06/30/2025 to 09/30/2025, with 7 having decreased their positions and 1 new position. Worth noting is that EQ Wealth Advisors LLC, included in this recent batch of 13F filers, exited PYPL common stock as of 09/30/2025.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the PYPL share count in the aggregate among all of the funds which held PYPL at the 09/30/2025 reporting period (out of the 2,176 we looked at in total). We then compared that number to the sum total of PYPL shares those same funds held back at the 06/30/2025 period, to see how the aggregate share count held by hedge funds has moved for PYPL. We found that between these two periods, funds reduced their holdings by 3,957,213 shares in the aggregate, from 38,438,398 down to 34,481,185 for a share count decline of approximately -10.29%. The overall top three funds holding PYPL on 09/30/2025 were:
»
Fund
Shares of PYPL Held
We'll keep following the latest 13F filings by hedge fund managers and bring you interesting stories derived from a look at the aggregate information across groups of managers between filing periods. While looking at individual 13F filings can sometimes be misleading due to the long-only nature of the information, the sum total across groups of funds from one reporting period to another can be a lot more revealing and relevant, providing interesting stock ideas that merit further research, like PayPal Holdings Inc (Symbol: PYPL).
Also see:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

See Which Of The Latest 13F Filers Holds PYPL

Pre-markets are keeping the pedal mostly to the metal this morning, with most of the major market indexes higher again following record closing highs Monday afternoon. The Dow is +220 points, the S&P 500 is +7 and the Nasdaq +41. Only the small-cap Russell 2000 is lower at this hour, by -7 points.
A new Fed Survey out this morning lays out what market participants have already been trading on — up between +4.5% and +6.5% from October 11 lows, depending on the index — with a +92% chance of a 25 basis-point (bps) rate cut at the conclusion of the FOMC meeting tomorrow, another 25 bps cut at the December meeting, and — this is new — possibly another cut in January. By the end of 2026, the survey expects to see the Fed funds rate between 3.00-3.25%, -100 bps from where we are currently.
As far as he government shutdown is concerned, neatly everyone believes it will be over by the end of this month or sometime in November. Almost no one says it will go into the new year. Currently, at 28 days, it is the second longest government shutdown, behind only the 35 days during holiday season of 2018-19, regarding funding for the border wall with Mexico.
There is also a preliminary report out this morning from Automatic Data Processing ADP this morning, which averages out private-sector job creation on a four-week basis. Inspired partly by the ongoing government shutdown, this is the preliminary average’s maiden voyage:
Ending the week of October 11, the four-week average in private-sector job growth is +14K — still paltry, but a meaningful improvement over a negative September average. This suggests that at next week’s monthly ADP report we’ll see private-sector jobs gains at +55K. ADP will now release these numbers with a two-week lag each Tuesday, with the possible exception of the week in which monthly ADP data is released.
Case-Shiller Home Prices Fall in 19 of 20 Cities
New August data for Case-Shiller Home Prices (these numbers, while aggressively in arrears, are routinely cited as the most accurate in the housing industry) showed +1.5% price growth year over year overall, even as prices fell month over month in 19 of 20 cities. Year over year, the 10-City composite was +2.1% (down 20 bps month over month) and the 20-City reached +1.6% (from +1.8%). Year-over-year price gains were biggest in New York City and Chicago, deepest cuts were in Tampa and San Francisco.
Biggest Earnings Surprises Ahead of the Open: UPS, VFC, PYPL
UPS UPS shares are up +12% on this morning’s big +32% earnings beat, with +2.8% growth on the company’s top line. The “turnaround plan” for the delivery and logistics giant looks to be in place. Shares are still down double-digits year to date on rough terrain regarding U.S. tariff policy.
V.F. Corp. VFC also shows signs of a turnaround, with a +23.8% earnings beat in its fiscal Q2, on +2.8% revenue growth in the quarter. Beyond tariff issues, the Vans-North Face-Timberland parent has seen a weakened market over the past two years. Shares are up +3% in the pre-market.
PayPal PYPL posted a +12.6% positive earnings surprise this morning on its bottom line in Q3, with a +2% beat on quarterly sales. Sweetening this news was the unveiling of a strategic partnership with OpenAI (although who doesn’t have one of these by now? ;) ). Shares were up double-digits on the news.
Quantum Computing Stocks Set To Soar
Artificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time.
Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.
Access the Report Free Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
PayPal Holdings, Inc. (PYPL) : Free Stock Analysis Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Fed's FOMC Meeting in Focus

Tuesday, October 28, 2025
Pre-markets are keeping the pedal mostly to the metal this morning, with most of the major market indexes higher again following record closing highs Monday afternoon. The Dow is +220 points, the S&P 500 is +7 and the Nasdaq +41. Only the small-cap Russell 2000 is lower at this hour, by -7 points.
A new Fed Survey out this morning lays out what market participants have already been trading on — up between +4.5% and +6.5% from October 11 lows, depending on the index — with a +92% chance of a 25 basis-point (bps) rate cut at the conclusion of the FOMC meeting tomorrow, another 25 bps cut at the December meeting, and — this is new — possibly another cut in January. By the end of 2026, the survey expects to see the Fed funds rate between 3.00-3.25%, -100 bps from where we are currently.
As far as he government shutdown is concerned, neatly everyone believes it will be over by the end of this month or sometime in November. Almost no one says it will go into the new year. Currently, at 28 days, it is the second longest government shutdown, behind only the 35 days during holiday season of 2018-19, regarding funding for the border wall with Mexico.
There is also a preliminary report out this morning from Automatic Data Processing ADP this morning, which averages out private-sector job creation on a four-week basis. Inspired partly by the ongoing government shutdown, this is the preliminary average’s maiden voyage:
Ending the week of October 11, the four-week average in private-sector job growth is +14K — still paltry, but a meaningful improvement over a negative September average. This suggests that at next week’s monthly ADP report we’ll see private-sector jobs gains at +55K. ADP will now release these numbers with a two-week lag each Tuesday, with the possible exception of the week in which monthly ADP data is released.
Case-Shiller Home Prices Fall in 19 of 20 Cities
New August data for Case-Shiller Home Prices (these numbers, while aggressively in arrears, are routinely cited as the most accurate in the housing industry) showed +1.5% price growth year over year overall, even as prices fell month over month in 19 of 20 cities. Year over year, the 10-City composite was +2.1% (down 20 bps month over month) and the 20-City reached +1.6% (from +1.8%). Year-over-year price gains were biggest in New York City and Chicago, deepest cuts were in Tampa and San Francisco.
Biggest Earnings Surprises Ahead of the Open: UPS, VFC, PYPL
UPS UPS shares are up +12% on this morning’s big +32% earnings beat, with +2.8% growth on the company’s top line. The “turnaround plan” for the delivery and logistics giant looks to be in place. Shares are still down double-digits year to date on rough terrain regarding U.S. tariff policy. For more on UPS’ earnings, click here.
V.F. Corp. VFC also shows signs of a turnaround, with a +23.8% earnings beat in its fiscal Q2, on +2.8% revenue growth in the quarter. Beyond tariff issues, the Vans-North Face-Timberland parent has seen a weakened market over the past two years. Shares are up +3% in the pre-market. For more on VFC’s earnings, click here.
PayPal PYPL posted a +12.6% positive earnings surprise this morning on its bottom line in Q3, with a +2% beat on quarterly sales. Sweetening this news was the unveiling of a strategic partnership with OpenAI (although who doesn’t have one of these by now? ;) ). Shares were up double-digits on the news. For more on PYPL’s earnings, click here.
Questions or comments about this article and/or author? Click here>>
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Prelim Jobs, Fed Data Join Q3 Earnings Beats: Pre-markets Up

In early trading on Tuesday, shares of PayPal Holdings topped the list of the day's best performing components of the Nasdaq 100 index, trading up 9.4%. Year to date, PayPal Holdings has lost about 9.9% of its value.
And the worst performing Nasdaq 100 component thus far on the day is NXP Semiconductors, trading down 3.2%. NXP Semiconductors is showing a gain of 3.2% looking at the year to date performance.
Two other components making moves today are Cadence Design Systems, trading down 2.9%, and Regeneron Pharmaceuticals trading up 5.5% on the day.
VIDEO: Nasdaq 100 Movers: NXPI, PYPL
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Nasdaq 100 Movers: NXPI, PYPL

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PayPal (PYPL) Q3 2025 Earnings Call Transcript

The NASDAQ 100 Pre-Market Indicator is up 53.64 to 25,875.19. The total Pre-Market volume is currently 181,298,497 shares traded.
The following are the most active stocks for the pre-market session:
SoFi Technologies, Inc. (SOFI) is +1.2302 at $31.23, with 12,886,791 shares traded. Smarter Analyst Reports: SoFi Concludes Acquisition of Technisys
Direxion Daily TSLA Bull 2X Shares (TSLL) is +0.39 at $21.64, with 9,647,229 shares traded. This represents a 244.04% increase from its 52 Week Low.
PayPal Holdings, Inc. (PYPL) is +10.3999 at $80.65, with 7,959,798 shares traded. Smarter Analyst Reports: Post 65% Decline, What’s Ahead for PayPal Stock?
ProShares UltraPro Short QQQ (SQQQ) is -0.08 at $13.14, with 4,225,927 shares traded., following a 52-week high recorded in prior regular session.
NVIDIA Corporation (NVDA) is +1.51 at $193.00, with 3,640,594 shares traded. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
Bitfarms Ltd. (BITF) is -0.11 at $4.43, with 2,210,212 shares traded. As reported by Zacks, the current mean recommendation for BITF is in the "buy range".
United Parcel Service, Inc. (UPS) is +11.0228 at $100.24, with 2,130,651 shares traded. UPS's current last sale is 100.24% of the target price of $100.
UnitedHealth Group Incorporated (UNH) is +17.395 at $383.38, with 1,426,129 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2025. The consensus EPS forecast is $2.07. As reported by Zacks, the current mean recommendation for UNH is in the "buy range".
AT&T Inc. (T) is -0.0399 at $25.49, with 1,184,165 shares traded. As reported by Zacks, the current mean recommendation for T is in the "buy range".
Cameco Corporation (CCJ) is +13.68 at $100.30, with 1,084,287 shares traded. As reported by Zacks, the current mean recommendation for CCJ is in the "buy range".
Norwegian Cruise Line Holdings Ltd. (NCLH) is -0.81 at $22.70, with 908,061 shares traded.NCLH is scheduled to provide an earnings report on 11/4/2025, for the fiscal quarter ending Sep2025. The consensus earnings per share forecast is 1.11 per share, which represents a 97 percent increase over the EPS one Year Ago
NuScale Power Corporation (SMR) is +1.0495 at $39.76, with 844,905 shares traded. SMR's current last sale is 104.63% of the target price of $38.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pre-Market Most Active for Oct 28, 2025 : SOFI, TSLL, PYPL, SQQQ, NVDA, BITF, UPS, UNH, T, CCJ, NCLH, SMR

Paypal (PYPL) came out with quarterly earnings of $1.34 per share, beating the Zacks Consensus Estimate of $1.19 per share. This compares to earnings of $1.2 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +12.61%. A quarter ago, it was expected that this technology platform and digital payments company would post earnings of $1.3 per share when it actually produced earnings of $1.4, delivering a surprise of +7.69%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Paypal, which belongs to the Zacks Financial Transaction Services industry, posted revenues of $8.42 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.95%. This compares to year-ago revenues of $7.85 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Paypal shares have lost about 17.7% since the beginning of the year versus the S&P 500's gain of 16.9%.
What's Next for Paypal?
While Paypal has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Paypal was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.31 on $8.78 billion in revenues for the coming quarter and $5.23 on $33.13 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial Transaction Services is currently in the bottom 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Paymentus (PAY), is yet to report results for the quarter ended September 2025. The results are expected to be released on November 3.
This electronic bill payment services is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of +6.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Paymentus' revenues are expected to be $280.49 million, up 21.1% from the year-ago quarter.
Should You Invest in PayPal Holdings, Inc. (PYPL)?
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Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

PayPal Holdings, Inc.

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