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

PayPal (NASDAQ:PYPL - Get Free Report) had its target price reduced by equities research analysts at Piper Sandler from $76.00 to $70.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the credit services provider's stock. Piper Sandler's price objective would indicate a potential upside of 5.87% from the stock's current price.

Several other brokerages have also issued reports on PYPL. Seaport Res Ptn lowered PayPal from a "hold" rating to a "strong sell" rating in a research report on Thursday, April 17th. Citigroup restated an "outperform" rating on shares of PayPal in a report on Wednesday, February 5th. Morgan Stanley increased their price target on shares of PayPal from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Susquehanna upped their price objective on shares of PayPal from $94.00 to $101.00 and gave the stock a "positive" rating in a report on Monday, January 6th. Finally, StockNews.com downgraded PayPal from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $85.69.

PayPal Price Performance

NASDAQ:PYPL traded up $1.19 during mid-day trading on Tuesday, hitting $66.12. 14,886,710 shares of the stock traded hands, compared to its average volume of 12,005,775. PayPal has a 12-month low of $55.85 and a 12-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. The company has a market cap of $64.62 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The business's 50-day moving average price is $66.49 and its 200 day moving average price is $78.47.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.16 by $0.17. The business 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%. The firm's revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 earnings per share. On average, analysts expect that PayPal will post 5.03 EPS for the current fiscal year.

Insider Activity

In other 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 transaction of $176,478.90. Following the sale, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On PayPal

Several hedge funds and other institutional investors have recently made changes to their positions in PYPL. Anchor Investment Management LLC grew its stake in PayPal by 9.9% in the third quarter. Anchor Investment Management LLC now owns 35,219 shares of the credit services provider's stock valued at $2,748,000 after purchasing an additional 3,175 shares during the last quarter. Boyar Asset Management Inc. bought a new position in shares of PayPal during the 3rd quarter worth approximately $208,000. World Investment Advisors LLC purchased a new stake in PayPal during the third quarter valued at approximately $5,296,000. Sfmg LLC acquired a new stake in PayPal in the third quarter valued at approximately $234,000. Finally, Wilmington Savings Fund Society FSB grew its holdings in PayPal by 196.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 10,221 shares of the credit services provider's stock worth $798,000 after purchasing an additional 6,772 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.

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.

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