Piper Sandler Lowers PayPal (NASDAQ:PYPL) Price Target to $70.00

PayPal (NASDAQ:PYPL) had its target price reduced by Piper Sandler from $76.00 to $70.00 in a research report report published on Tuesday,Benzinga reports. Piper Sandler currently has a neutral rating on the credit services provider’s stock.

Several other equities analysts also recently commented on PYPL. DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Friday, February 28th. Susquehanna boosted their target price on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research note on Monday, January 6th. Wells Fargo & Company reduced their price target on PayPal from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. BTIG Research reissued a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Finally, Morgan Stanley raised their target price on shares of PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average target price of $83.77.

PayPal Trading Down 0.7 %

PYPL opened at $65.41 on Tuesday. PayPal has a 52 week low of $55.85 and a 52 week 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. The business has a fifty day simple moving average of $65.89 and a 200-day simple moving average of $78.20. The firm has a market cap of $63.93 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.27 and a beta of 1.60.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.17. The company had revenue of $7.79 billion during the quarter, compared to analysts’ expectations of $7.84 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the business posted $1.08 EPS. On average, equities analysts expect that PayPal will post 5.03 earnings per share for the current year.

Insider Transactions at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the transaction, the director now directly owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of PayPal in the 4th quarter valued at approximately $1,086,508,000. Capital Research Global Investors grew 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 worth $1,529,823,000 after acquiring an additional 9,313,783 shares during the period. Artisan Partners Limited Partnership increased its position in shares of PayPal by 284.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock valued at $666,100,000 after buying an additional 5,772,198 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in PayPal by 174.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after acquiring an additional 2,689,162 shares in the last quarter. Finally, FMR LLC raised its position in shares of PayPal by 12.9% during the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock worth $1,615,134,000 after purchasing an additional 2,161,582 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Company Profile

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.