Morgan Stanley Cuts PayPal (NASDAQ:PYPL) Price Target to $129.00

PayPal (NASDAQ:PYPLGet Rating) had its price objective reduced by analysts at Morgan Stanley from $137.00 to $129.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the credit services provider’s stock. Morgan Stanley’s price objective points to a potential upside of 52.66% from the company’s current price.

Several other brokerages have also recently issued reports on PYPL. StockNews.com cut shares of PayPal from a “hold” rating to a “sell” rating in a research note on Tuesday, May 24th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PayPal from $260.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, February 2nd. Wells Fargo & Company lowered their price objective on shares of PayPal from $152.00 to $115.00 in a research report on Thursday, April 28th. Jefferies Financial Group reduced their target price on shares of PayPal from $105.00 to $95.00 in a research note on Thursday, April 28th. Finally, Truist Financial reduced their target price on shares of PayPal from $115.00 to $85.00 in a research note on Thursday, April 28th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $152.60.

Shares of PYPL stock traded up $2.02 during mid-day trading on Thursday, reaching $84.50. The company’s stock had a trading volume of 226,223 shares, compared to its average volume of 17,182,540. The company’s 50 day simple moving average is $94.29 and its 200-day simple moving average is $134.38. The firm has a market capitalization of $97.85 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 1.79 and a beta of 1.40. PayPal has a 12-month low of $71.83 and a 12-month high of $310.16. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.40.

PayPal (NASDAQ:PYPLGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The credit services provider reported $0.88 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.88. PayPal had a net margin of 13.87% and a return on equity of 17.90%. During the same period in the prior year, the company posted $0.91 EPS. As a group, research analysts anticipate that PayPal will post 2.74 EPS for the current fiscal year.

In other news, EVP Peggy Alford sold 14,767 shares of the business’s stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $85.32, for a total transaction of $1,259,920.44. Following the sale, the executive vice president now directly owns 39,891 shares in the company, valued at $3,403,500.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Auerbach sold 40,749 shares of the business’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $100.62, for a total value of $4,100,164.38. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of PYPL. Evoke Wealth LLC grew its holdings in PayPal by 1.5% during the third quarter. Evoke Wealth LLC now owns 3,382 shares of the credit services provider’s stock worth $880,000 after buying an additional 49 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in PayPal by 2.9% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 1,961 shares of the credit services provider’s stock worth $370,000 after buying an additional 55 shares in the last quarter. Cranbrook Wealth Management LLC grew its holdings in PayPal by 26.7% during the third quarter. Cranbrook Wealth Management LLC now owns 285 shares of the credit services provider’s stock worth $74,000 after buying an additional 60 shares in the last quarter. Private Asset Management Inc. grew its stake in PayPal by 3.7% in the 4th quarter. Private Asset Management Inc. now owns 1,742 shares of the credit services provider’s stock valued at $329,000 after purchasing an additional 62 shares during the period. Finally, Carroll Financial Associates Inc. grew its stake in PayPal by 1.2% in the 4th quarter. Carroll Financial Associates Inc. now owns 5,439 shares of the credit services provider’s stock valued at $1,044,000 after purchasing an additional 62 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Company Profile (Get Rating)

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.

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