PayPal (NASDAQ:PYPL) Stock Price Down 1.4% After Analyst Downgrade

PayPal Holdings, Inc. (NASDAQ:PYPL) shares traded down 1.4% during trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $80.00 to $74.00. Wells Fargo & Company currently has an equal weight rating on the stock. PayPal traded as low as $60.32 and last traded at $61.11. 2,433,722 shares traded hands during trading, a decline of 79% from the average session volume of 11,434,263 shares. The stock had previously closed at $62.00.

A number of other research analysts have also recently commented on the stock. Arete Research set a $81.00 price target on shares of PayPal in a research note on Thursday, March 27th. Macquarie increased their target price on PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. StockNews.com lowered PayPal from a “buy” rating to a “hold” rating in a research note on Monday. Susquehanna increased their price objective on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research note on Monday, January 6th. Finally, Evercore ISI began coverage on shares of PayPal in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $65.00 target price on the stock. Sixteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.84.

Insider Activity at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the sale, the director now owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PayPal

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mpwm Advisory Solutions LLC acquired a new position in PayPal in the fourth quarter valued at about $25,000. Hurley Capital LLC bought a new stake in PayPal during the 4th quarter worth approximately $27,000. Rosenberg Matthew Hamilton raised its holdings in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after buying an additional 125 shares during the period. Sugarloaf Wealth Management LLC raised its stake in shares of PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 272 shares during the period. Finally, Bernard Wealth Management Corp. bought a new position in shares of PayPal during the 4th quarter worth approximately $34,000. 68.32% of the stock is owned by institutional investors.

PayPal Stock Down 1.5 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The firm’s 50-day simple moving average is $69.21 and its 200 day simple moving average is $79.53. The stock has a market capitalization of $60.39 billion, a P/E ratio of 15.24, a PEG ratio of 1.27 and a beta of 1.60.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $1.48 earnings per share. As a group, research analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

PayPal Company Profile

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.