PayPal (NASDAQ:PYPL) Price Target Lowered to $74.00 at Wells Fargo & Company

PayPal (NASDAQ:PYPL) had its price target cut by Wells Fargo & Company from $80.00 to $74.00 in a report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the credit services provider’s stock.

A number of other research firms also recently commented on PYPL. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PayPal in a report on Tuesday, February 4th. Macquarie lifted their price objective on PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods lowered their price objective on PayPal from $104.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, March 31st. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. Finally, Susquehanna upped their price target on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research note on Monday, January 6th. Sixteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average price target of $86.84.

PayPal Stock Performance

Shares of NASDAQ:PYPL opened at $60.24 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. PayPal has a 1 year low of $55.85 and a 1 year high of $93.66. The firm has a market capitalization of $59.59 billion, a PE ratio of 15.02, a P/E/G ratio of 1.27 and a beta of 1.60. The business’s 50 day moving average price is $68.87 and its 200-day moving average price is $79.40.

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

Insider Buying and Selling

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business’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 transaction of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares in the company, valued at $2,145,308.10. The trade was a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Institutional investors and hedge funds have recently modified their holdings of the company. Anchor Investment Management LLC raised its position in shares of PayPal by 9.9% during the 3rd quarter. Anchor Investment Management LLC now owns 35,219 shares of the credit services provider’s stock worth $2,748,000 after acquiring an additional 3,175 shares in the last quarter. Boyar Asset Management Inc. purchased a new position in PayPal in the third quarter valued at approximately $208,000. World Investment Advisors LLC acquired a new stake in PayPal during the third quarter worth approximately $5,296,000. Sfmg LLC purchased a new stake in shares of PayPal during the 3rd quarter worth approximately $234,000. Finally, Wilmington Savings Fund Society FSB boosted its holdings in shares of PayPal by 196.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,221 shares of the credit services provider’s stock valued at $798,000 after buying an additional 6,772 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

About PayPal

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.