PayPal (NASDAQ:PYPL) Stock Price Down 0.1% on Analyst Downgrade

PayPal Holdings, Inc. (NASDAQ:PYPL) was down 0.1% during trading on Wednesday after Monness Crespi & Hardt lowered their price target on the stock from $120.00 to $90.00. Monness Crespi & Hardt currently has a buy rating on the stock. PayPal traded as low as $56.63 and last traded at $57.33. Approximately 3,633,375 shares changed hands during trading, a decline of 68% from the average daily volume of 11,357,330 shares. The stock had previously closed at $57.41.

Several other equities analysts have also recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. BTIG Research reiterated a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Arete Research set a $81.00 price target on shares of PayPal in a report on Thursday, March 27th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and upped their target price for the stock from $86.00 to $103.00 in a research report on Monday, December 9th. Finally, StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a report on Sunday. Fifteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.32.

Insider Transactions at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, the director now directly owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This represents a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On PayPal

Several hedge funds and other institutional investors have recently modified their holdings of the business. Park Place Capital Corp increased its stake in PayPal by 6.6% in the fourth quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider’s stock worth $161,000 after purchasing an additional 116 shares during the period. Rosenberg Matthew Hamilton lifted 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 valued at $26,000 after buying an additional 125 shares in the last quarter. JFS Wealth Advisors LLC boosted its position in PayPal by 33.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 502 shares of the credit services provider’s stock valued at $43,000 after buying an additional 125 shares during the period. Wynn Capital LLC grew its stake in PayPal by 1.1% in the 4th quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock worth $983,000 after acquiring an additional 130 shares in the last quarter. Finally, Avalon Trust Co increased its position in shares of PayPal by 7.0% during the fourth quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider’s stock worth $176,000 after acquiring an additional 135 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Down 0.1 %

The stock has a market cap of $56.73 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.27 and a beta of 1.60. The company’s 50 day moving average price is $71.77 and its two-hundred day moving average price is $80.20. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results 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 business had revenue of $8.37 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted $1.48 EPS. As a group, research analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share 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.