PayPal (NASDAQ:PYPL) Price Target Cut to $85.00 by Analysts at Keefe, Bruyette & Woods

PayPal (NASDAQ:PYPL) had its target price cut by Keefe, Bruyette & Woods from $104.00 to $85.00 in a research note published on Monday morning,Benzinga reports. They currently have an outperform rating on the credit services provider’s stock.

Other research analysts also recently issued reports about the stock. Barclays boosted their price objective on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Friday, February 28th. Wolfe Research raised shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target for the company in a research note on Friday, December 13th. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $86.00 to $103.00 in a research report on Monday, December 9th. Finally, Citigroup reissued an “outperform” rating on shares of PayPal in a research report on Wednesday, February 5th. Sixteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.40.

PayPal Stock Performance

PayPal stock opened at $67.15 on Monday. PayPal has a 1-year low of $56.97 and a 1-year high of $93.66. The firm has a market cap of $66.43 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.27 and a beta of 1.52. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average of $74.82 and a 200-day moving average of $80.74.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the business posted $1.48 EPS. The business’s revenue was up 4.2% on a year-over-year basis. Sell-side analysts expect that PayPal will post 5.03 EPS for the current year.

Insider Buying and Selling at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Several hedge funds and other institutional investors have recently modified their holdings of PYPL. Geode Capital Management LLC increased its position in PayPal by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider’s stock valued at $1,849,884,000 after acquiring an additional 271,836 shares during the last quarter. FMR LLC increased 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 valued at $1,615,134,000 after purchasing an additional 2,161,582 shares during the last quarter. Capital Research Global Investors lifted its stake 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 purchasing an additional 9,313,783 shares during the period. Norges Bank purchased a new position in shares of PayPal in the fourth quarter worth approximately $1,086,508,000. Finally, Northern Trust Corp grew its position in PayPal by 19.0% during the fourth quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider’s stock valued at $892,953,000 after buying an additional 1,669,908 shares during the period. 68.32% of the stock is owned by institutional investors.

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.