Downgrades PayPal (NASDAQ:PYPL) to Hold

PayPal (NASDAQ:PYPLGet Free Report) was downgraded by stock analysts at from a “buy” rating to a “hold” rating in a report released on Tuesday.

PYPL has been the topic of several other reports. Canaccord Genuity Group dropped their target price on PayPal from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Oppenheimer reissued a “market perform” rating on shares of PayPal in a research report on Thursday, January 25th. Monness Crespi & Hardt raised their price target on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 29th. TD Cowen upped their price objective on shares of PayPal from $58.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Finally, JMP Securities boosted their price target on PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 1st. Twenty-three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $72.73.

Read Our Latest Stock Report on PYPL

PayPal Stock Up 0.4 %

Shares of NASDAQ:PYPL opened at $64.77 on Tuesday. The stock has a 50-day simple moving average of $64.77 and a 200-day simple moving average of $61.47. The stock has a market capitalization of $67.75 billion, a P/E ratio of 16.31, a PEG ratio of 1.16 and a beta of 1.41. PayPal has a 1 year low of $50.25 and a 1 year high of $76.54. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28.

PayPal (NASDAQ:PYPLGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. PayPal’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts forecast that PayPal will post 4.13 earnings per share for the current year.

Insider Activity

In other news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the sale, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On PayPal

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley lifted its stake in PayPal by 4.5% in the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after acquiring an additional 873,181 shares in the last quarter. Norges Bank purchased a new stake in shares of PayPal in the fourth quarter worth approximately $749,561,000. Northern Trust Corp boosted its holdings in shares of PayPal by 0.7% during the third quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock worth $687,902,000 after purchasing an additional 78,105 shares during the period. Charles Schwab Investment Management Inc. grew its position in PayPal by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock valued at $428,449,000 after purchasing an additional 265,116 shares in the last quarter. Finally, FMR LLC increased its stake in PayPal by 29.5% in the 3rd quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after buying an additional 1,575,930 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for PayPal (NASDAQ:PYPL)

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