PayPal (NASDAQ:PYPL) had its price objective lowered by equities research analysts at Canaccord Genuity Group from $315.00 to $215.00 in a note issued to investors on Wednesday, Briefing.com reports. The brokerage currently has a “buy” rating on the credit services provider’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 64.90% from the stock’s current price.
Several other brokerages have also issued reports on PYPL. Mizuho decreased their price objective on PayPal from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, January 25th. Morgan Stanley decreased their price objective on PayPal from $217.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday. Jefferies Financial Group cut their target price on PayPal from $200.00 to $145.00 and set a “hold” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut their target price on PayPal from $260.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, BMO Capital Markets cut their target price on PayPal from $224.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirty-three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $219.63.
Shares of PayPal stock traded down $45.42 during trading on Wednesday, hitting $130.38. 3,971,745 shares of the company were exchanged, compared to its average volume of 14,609,345. The firm has a market capitalization of $153.19 billion, a P/E ratio of 31.31, a price-to-earnings-growth ratio of 2.27 and a beta of 1.16. PayPal has a 1-year low of $152.08 and a 1-year high of $310.16. The firm’s fifty day moving average price is $183.29 and its 200 day moving average price is $234.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.30.
PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, February 1st. The credit services provider reported $1.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.01). PayPal had a net margin of 20.09% and a return on equity of 19.75%. The business had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.89 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. PayPal’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities research analysts anticipate that PayPal will post 3.47 earnings per share for the current year.
In other news, CAO Jeffrey William Karbowski sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, November 16th. The stock was sold at an average price of $215.00, for a total transaction of $387,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique Lores acquired 2,770 shares of the stock in a transaction dated Friday, December 3rd. The shares were bought at an average price of $180.08 per share, with a total value of $498,821.60. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 14,097 shares of company stock valued at $2,786,518 and sold 34,114 shares valued at $6,645,558. 0.10% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec grew its stake in PayPal by 355.8% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 282,691 shares of the credit services provider’s stock worth $82,399,000 after purchasing an additional 220,669 shares during the period. Oxbow Advisors LLC grew its stake in PayPal by 10.2% during the third quarter. Oxbow Advisors LLC now owns 28,320 shares of the credit services provider’s stock worth $7,369,000 after purchasing an additional 2,613 shares during the period. Deltec Asset Management LLC grew its stake in PayPal by 6.5% in the third quarter. Deltec Asset Management LLC now owns 28,385 shares of the credit services provider’s stock valued at $7,386,000 after acquiring an additional 1,735 shares during the period. Thoroughbred Financial Services LLC grew its stake in PayPal by 6.0% in the third quarter. Thoroughbred Financial Services LLC now owns 17,889 shares of the credit services provider’s stock valued at $4,654,000 after acquiring an additional 1,005 shares during the period. Finally, DT Investment Partners LLC acquired a new stake in PayPal in the third quarter valued at approximately $804,000. Institutional investors own 78.38% of the company’s stock.
About PayPal
PayPal Holdings, Inc engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The firm manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.