Piper Sandler Cuts PayPal (NASDAQ:PYPL) Price Target to $70.00

PayPal (NASDAQ:PYPL) had its target price lowered by Piper Sandler from $76.00 to $70.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the credit services provider’s stock.

Several other equities analysts also recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research report on Wednesday, February 26th. Barclays cut their price objective on PayPal from $110.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. BTIG Research restated a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. DZ Bank raised shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Friday, February 28th. Finally, Evercore ISI began coverage on shares of PayPal in a report on Wednesday, April 9th. They issued an “in-line” rating and a $65.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.77.

PayPal Trading Down 0.7 %

Shares of NASDAQ:PYPL opened at $65.41 on Tuesday. The business’s 50-day moving average is $65.89 and its 200 day moving average is $78.20. 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 $63.93 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.27 and a beta of 1.60.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.17. The firm had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.08 earnings per share. On average, research analysts predict that PayPal will post 5.03 earnings per share for the current fiscal year.

Insider Buying and Selling at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was 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 directly owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by insiders.

Institutional Trading of PayPal

Several large investors have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC grew its stake in shares of PayPal by 9.9% in the 3rd quarter. Anchor Investment Management LLC now owns 35,219 shares of the credit services provider’s stock valued at $2,748,000 after buying an additional 3,175 shares during the period. Boyar Asset Management Inc. acquired a new stake in PayPal during the third quarter worth $208,000. World Investment Advisors LLC purchased a new stake in PayPal in the third quarter valued at $5,296,000. Sfmg LLC acquired a new position in shares of PayPal in the 3rd quarter valued at $234,000. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of PayPal by 196.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,221 shares of the credit services provider’s stock worth $798,000 after purchasing an additional 6,772 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

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.