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PayPal Board Rejects $60.50 Offer, Announces 4,760 Job Cuts

7/20/2026

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Summary

Story summary

PayPal's board rejected the $60.50-per-share offer on July 20, sending the stock to €49.45, a 0.33% dip.
Analysts value PayPal at $70 (Cantor Fitzgerald) or $65.20 (Davis Park) while some investors see $110-$115 potential.
Venmo has 100 million users, 67 million monthly active, and revenue up 20%.
CEO Enrique Lores is cutting about 4,760 jobs and targeting $1.5 billion of cost cuts.

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Story summary

PayPal's board rejected the $60.50-per-share offer on July 20, sending the stock to €49.45, a 0.33% dip.
Analysts value PayPal at $70 (Cantor Fitzgerald) or $65.20 (Davis Park) while some investors see $110-$115 potential.
Venmo has 100 million users, 67 million monthly active, and revenue up 20%.
CEO Enrique Lores is cutting about 4,760 jobs and targeting $1.5 billion of cost cuts.