Monness Crespi & Hardt Lowers PayPal (NASDAQ:PYPL) Price Target to $90.00

PayPal (NASDAQ:PYPL) had its price objective trimmed by Monness Crespi & Hardt from $120.00 to $90.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the credit services provider’s stock.

A number of other research firms have also weighed in on PYPL. DZ Bank raised PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Friday, February 28th. Piper Sandler cut their price objective on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Robert W. Baird lowered their target price on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and raised their target price for the company from $86.00 to $103.00 in a research note on Monday, December 9th. Finally, Barclays boosted their price target on shares of PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.32.

PayPal Stock Down 5.3 %

PYPL stock opened at $60.56 on Tuesday. The business’s 50-day moving average price is $70.19 and its 200-day moving average price is $79.87. The stock has a market cap of $59.91 billion, a P/E ratio of 15.10, a PEG ratio of 1.27 and a beta of 1.60. PayPal has a twelve month low of $55.85 and a twelve month high of $93.66. 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 posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.48 earnings per share. On average, equities research analysts forecast that PayPal will post 5.03 EPS for the current year.

Insider Transactions at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company’s 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On PayPal

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in PayPal by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider’s stock worth $1,849,884,000 after buying an additional 271,836 shares in the last quarter. FMR LLC increased its holdings in shares of PayPal by 12.9% in the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock valued at $1,615,134,000 after acquiring an additional 2,161,582 shares during the period. Capital Research Global Investors increased its holdings in shares of PayPal by 108.2% in the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock valued at $1,529,823,000 after acquiring an additional 9,313,783 shares during the period. Norges Bank bought a new position in shares of PayPal in the 4th quarter worth $1,086,508,000. Finally, Northern Trust Corp lifted its stake in shares of PayPal by 19.0% during the 4th quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider’s stock worth $892,953,000 after purchasing an additional 1,669,908 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

About PayPal

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.