CNBC’s Jim Cramer was surprised after Piper Jaffray’s Gene Munster opened the door for a alternate in his PayPal thesis.
“he’s been very terrible on PayPal. He started speakme about his terrible thesis being derailed,” Cramerstated Thursday on “Squawk on the street.”
“This man has been down there giving them the commercial enterprise every single time. [CEO] Dan Schulman delivering, handing over, handing over; Munster slamming, slamming, slamming.”
Munster reiterated his “underweight” score on the inventory but raised his price goal slightly, to $34 from $33, after PayPal reported quarterly outcomes.
PayPal President and CEO Dan Schulman (center) joins employees, customers and Nasdaq employeeswhile ringing the bell at Nasdaq this morning on July 20, 2015 in ny metropolis.
PayPal hosts ‘gender equality’ panel…without any women
“PayPal’s new app has in-shop bills capability, that is a large opportunity for the mobile wallet. even as this has the ability to derail our thesis of existing mobile POS wallets (Apple Pay, Samsung Pay, Android Pay) gaining a following and migrating customers into mobile net payments, we accept as true with it’s miles too early to call PayPal a winner in cellular POS,” he stated in a Thursday note to customers.
On Wednesday, the digital bills firm published first-zone adjusted income in keeping with percentage of 37 cents on sales of $2.fifty four billion. Analysts polled by way of Reuters expected the company to recordincome of 35 cents on revenue of $2.50 billion.
The stock become up more than zero.15 percentage Thursday and closed at $40.07.