NEW YORK (TheStreet) -- PayPal Holdings(PYPL) - Get Report shares are falling 1.29% to $39.79 on Monday despite analysts maintaining an optimistic outlook ahead of the company's first quarter 2016 financial results due out on Wednesday afternoon.
In a note issued to investors this morning, Cantor Fitzgerald reiterated its "buy" rating on the stock with a $47 price target, saying earnings should be in line with Wall Street's projections of 35 cents a share on revenue of $2.5 billion.
"With management's focus on the online and in-apps opportunities, and with sustained growth in active users and penetration of the merchant base, Paypal should continue to grow total payment volume
(TPV) and revenue at a healthy double-digit rate in fiscal 2016," analysts said.
Based in San Jose, CA, PayPal operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide.
(PayPalis held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trial).