BMO Capital Markets Lowers PayPal (NASDAQ:PYPL) Price Target to $79.00

PayPal (NASDAQ:PYPL - Get Free Report) had its price objective lowered by equities research analysts at BMO Capital Markets from $83.00 to $79.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "market perform" rating on the credit services provider's stock. BMO Capital Markets' price objective would indicate a potential upside of 22.19% from the company's current price.

Several other research firms have also recently weighed in on PYPL. UBS Group lowered their price target on PayPal from $88.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday. Robert W. Baird boosted their price objective on shares of PayPal from $78.00 to $79.00 and gave the company an "outperform" rating in a research report on Wednesday. Susquehanna raised their target price on shares of PayPal from $94.00 to $101.00 and gave the company a "positive" rating in a research note on Monday, January 6th. JPMorgan Chase & Co. restated an "overweight" rating on shares of PayPal in a report on Tuesday, February 4th. Finally, Compass Point assumed coverage on PayPal in a research report on Wednesday, April 23rd. They set a "sell" rating and a $56.00 price objective on the stock. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $84.09.

PayPal Trading Down 2.5 %

Shares of NASDAQ:PYPL traded down $1.67 during midday trading on Wednesday, reaching $64.65. The company's stock had a trading volume of 2,844,958 shares, compared to its average volume of 11,425,851. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. PayPal has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The firm has a 50 day moving average price of $66.27 and a two-hundred day moving average price of $78.39. The firm has a market capitalization of $63.19 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.27 and a beta of 1.60.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.17. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $7.79 billion during the quarter, compared to analysts' expectations of $7.84 billion. During the same period in the previous year, the business earned $1.08 earnings per share. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. As a group, analysts forecast that PayPal will post 5.03 earnings per share for the current year.

Insider Activity at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the transaction, the director now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company's stock.

Institutional Trading of PayPal

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Park Place Capital Corp boosted its stake in PayPal by 6.6% in the 4th quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider's stock worth $161,000 after buying an additional 116 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock worth $26,000 after purchasing an additional 125 shares during the last quarter. JFS Wealth Advisors LLC raised its stake in PayPal by 33.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 502 shares of the credit services provider's stock worth $43,000 after purchasing an additional 125 shares during the period. Wynn Capital LLC raised its position in shares of PayPal by 1.1% in the 4th quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider's stock worth $983,000 after buying an additional 130 shares during the period. Finally, Avalon Trust Co lifted its position in PayPal by 7.0% during the fourth quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider's stock valued at $176,000 after buying an additional 135 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.