PayPal (NASDAQ:PYPL) Given New $120.00 Price Target at Wells Fargo & Company

PayPal (NASDAQ:PYPLGet Rating) had its price objective reduced by Wells Fargo & Company from $123.00 to $120.00 in a report issued on Thursday morning, MarketBeat Ratings reports. They currently have an overweight rating on the credit services provider’s stock.

PYPL has been the subject of several other research reports. Daiwa Capital Markets raised shares of PayPal from a neutral rating to an outperform rating and boosted their target price for the company from $85.00 to $116.00 in a research note on Tuesday, August 16th. Keefe, Bruyette & Woods lowered their price target on PayPal from $108.00 to $98.00 in a report on Monday, July 11th. JPMorgan Chase & Co. lowered their price target on PayPal from $127.00 to $112.00 in a report on Wednesday, July 20th. Citigroup lifted their price target on PayPal to $122.00 in a report on Tuesday, August 9th. Finally, Mizuho lowered their price target on PayPal from $120.00 to $118.00 and set a buy rating for the company in a report on Monday, August 8th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirty-one have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $138.93.

PayPal Trading Up 1.3 %

Shares of PYPL stock opened at $96.17 on Thursday. The firm has a 50-day moving average price of $87.45 and a 200 day moving average price of $91.28. PayPal has a twelve month low of $67.58 and a twelve month high of $289.37. The company has a market capitalization of $111.22 billion, a price-to-earnings ratio of 55.27, a PEG ratio of 1.98 and a beta of 1.45. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.52.

PayPal (NASDAQ:PYPLGet Rating) last announced its earnings results on Tuesday, August 2nd. The credit services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.11. PayPal had a net margin of 7.79% and a return on equity of 16.79%. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.76 billion. Research analysts forecast that PayPal will post 2.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Peggy Alford sold 21,791 shares of the company’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $97.82, for a total transaction of $2,131,595.62. Following the completion of the transaction, the executive vice president now directly owns 18,100 shares in the company, valued at approximately $1,770,542. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Wiley BROS. Aintree Capital LLC grew its stake in PayPal by 1.9% during the 1st quarter. Wiley BROS. Aintree Capital LLC now owns 4,892 shares of the credit services provider’s stock worth $566,000 after buying an additional 90 shares during the last quarter. Magnus Financial Group LLC grew its stake in shares of PayPal by 8.3% in the fourth quarter. Magnus Financial Group LLC now owns 1,183 shares of the credit services provider’s stock worth $223,000 after purchasing an additional 91 shares in the last quarter. Shay Capital LLC grew its stake in shares of PayPal by 2.2% in the fourth quarter. Shay Capital LLC now owns 4,520 shares of the credit services provider’s stock worth $852,000 after purchasing an additional 98 shares in the last quarter. Auxier Asset Management grew its stake in shares of PayPal by 6.4% in the fourth quarter. Auxier Asset Management now owns 1,667 shares of the credit services provider’s stock worth $314,000 after purchasing an additional 100 shares in the last quarter. Finally, Front Row Advisors LLC grew its stake in shares of PayPal by 7.5% in the fourth quarter. Front Row Advisors LLC now owns 1,441 shares of the credit services provider’s stock worth $272,000 after purchasing an additional 100 shares in the last quarter. 70.67% of the stock is currently owned by institutional investors.

About PayPal

(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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