PayPal (NASDAQ:PYPL) Shares Down 0.1% Following Analyst Downgrade

PayPal Holdings, Inc. (NASDAQ:PYPL) shares dropped 0.1% during trading on Wednesday after Monness Crespi & Hardt lowered their price target on the stock from $120.00 to $90.00. Monness Crespi & Hardt currently has a buy rating on the stock. PayPal traded as low as $56.63 and last traded at $57.33. Approximately 3,633,375 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 11,357,330 shares. The stock had previously closed at $57.41.

A number of other equities research analysts have also recently commented on PYPL. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Citigroup reiterated an “outperform” rating on shares of PayPal in a research report on Wednesday, February 5th. Robert W. Baird dropped their target price on PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Macquarie lifted their price target on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Finally, Arete Research set a $81.00 price target on PayPal in a research report on Thursday, March 27th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.32.

Insiders Place Their Bets

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 transaction of $176,478.90. Following the sale, the director now owns 29,734 shares of the company’s stock, valued at $2,145,308.10. The trade was a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PayPal

Several hedge funds and other institutional investors have recently bought and sold shares of PYPL. Mpwm Advisory Solutions LLC purchased a new stake in shares of PayPal in the 4th quarter worth about $25,000. Rosenberg Matthew Hamilton increased its stake in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares in the last quarter. Hurley Capital LLC acquired a new position in shares of PayPal during the 4th quarter worth approximately $27,000. Sugarloaf Wealth Management LLC lifted its stake in PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares in the last quarter. Finally, Bernard Wealth Management Corp. acquired a new stake in PayPal during the 4th quarter valued at $34,000. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Performance

The company has a market capitalization of $63.26 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 1.27 and a beta of 1.60. The stock has a fifty day moving average price of $70.76 and a two-hundred day moving average price of $79.99. 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 issued its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the company earned $1.48 EPS. As a group, analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

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.