PayPal (NASDAQ:PYPL) Shares Down 0.2% Following Analyst Downgrade

Shares of PayPal Holdings, Inc. (NASDAQ:PYPLGet Free Report) dropped 0.2% on Tuesday after Citigroup lowered their price target on the stock from $98.00 to $95.00. Citigroup currently has a buy rating on the stock. PayPal traded as low as $67.80 and last traded at $68.41. Approximately 2,158,452 shares changed hands during trading, a decline of 81% from the average daily volume of 11,226,406 shares. The stock had previously closed at $68.54.

PYPL has been the topic of a number of other research reports. Royal Bank of Canada dropped their target price on PayPal from $104.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Compass Point started coverage on PayPal in a research note on Wednesday, April 23rd. They issued a “sell” rating and a $56.00 price target for the company. Wells Fargo & Company reduced their price objective on shares of PayPal from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. BMO Capital Markets dropped their target price on shares of PayPal from $83.00 to $79.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 30th. Finally, Morgan Stanley lifted their price objective on PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and a consensus target price of $83.68.

View Our Latest Report on PayPal

Insider Activity at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PayPal

Institutional investors have recently bought and sold shares of the stock. Mpwm Advisory Solutions LLC purchased a new position in shares of PayPal in the 4th quarter worth $25,000. Rosenberg Matthew Hamilton lifted its position in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after buying an additional 125 shares in the last quarter. Hurley Capital LLC purchased a new stake in PayPal during the fourth quarter worth approximately $27,000. Evermay Wealth Management LLC increased its position in shares of PayPal by 726.0% in the first quarter. Evermay Wealth Management LLC now owns 413 shares of the credit services provider’s stock worth $27,000 after acquiring an additional 363 shares in the last quarter. Finally, Garde Capital Inc. purchased a new position in shares of PayPal in the 1st quarter valued at $28,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Price Performance

The firm has a market cap of $66.80 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51. 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 company’s fifty day moving average is $65.58 and its two-hundred day moving average is $77.86.

PayPal (NASDAQ:PYPLGet Free Report) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.17. The business had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.84 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 earnings per share. Equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

About PayPal

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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.

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