SentinelOne (S) soared over 15% Wednesday afternoon, after the cybersecurity firm posted a narrower-than-expected third-quarter quarter loss and issued upbeat guidance. SentinelOne stock has gained 60% year-to-date. Brown-Forman (BF-B) shares dropped as the Jack Daniel's parent company reported a 2% decline in net whiskey sales. The company trimmed its 2024 organic net sales outlook, though tequila and ready-to-drink revenues rose. Bank of America (BAC) downgraded both Toast (TOST) and PayPal (PYPL) shares from "Buy" to "Neutral." Analysts see 2024 as a transition year for PayPal, while for Toast, increased competition and "slower top-line momentum" could be headwinds. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
2023 is gearing up to close on a promising note for the U.S. stock market, a marked change from the disappointing performance of 2022. Now's a great time for investors to consider picking up stocks that are riding solid secular tailwinds such as artificial intelligence (AI) and digital payments. Nvidia (NASDAQ: NVDA) and PayPal (NASDAQ: PYPL) are piquing my interest as impressive buy-and-hold opportunities for long-term investors.
PayPal (NASDAQ: PYPL) was once a market darling, surging in its early history and during the pandemic. As a result, the stock is now down 81% from its pandemic-era peak, but there are signs that PayPal is starting to turn the corner. The company has also been overhauling its management team, bringing in Alex Chriss as its new CEO and Jamie Miller as its new CFO.