PayPal (NASDAQ:PYPL) Price Target Cut to $118.00 by Analysts at Royal Bank of Canada

PayPal (NASDAQ:PYPLGet Rating) had its price objective decreased by research analysts at Royal Bank of Canada from $180.00 to $118.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the credit services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 31.99% from the stock’s current price.

A number of other equities analysts have also issued reports on PYPL. BMO Capital Markets decreased their price target on PayPal from $224.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, February 2nd. The Goldman Sachs Group started coverage on PayPal in a research note on Wednesday, March 30th. They set a “buy” rating and a $144.00 target price for the company. BTIG Research cut shares of PayPal from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 2nd. Bank of America lowered shares of PayPal from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $175.00 to $107.00 in a research report on Wednesday, March 9th. Finally, Sanford C. Bernstein dropped their target price on shares of PayPal from $180.00 to $140.00 in a report on Thursday, February 3rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $185.98.

PYPL stock opened at $89.40 on Friday. The company has a 50-day simple moving average of $107.91 and a 200 day simple moving average of $166.46. The company has a market capitalization of $104.15 billion, a P/E ratio of 25.40, a PEG ratio of 1.66 and a beta of 1.29. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.37. PayPal has a fifty-two week low of $88.81 and a fifty-two week high of $310.16.

PayPal (NASDAQ:PYPLGet Rating) last released its quarterly earnings results on Tuesday, February 1st. The credit services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. The company had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.89 billion. PayPal had a net margin of 16.43% and a return on equity of 20.30%. PayPal’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. Equities analysts anticipate that PayPal will post 3.42 EPS for the current year.

In other PayPal news, EVP Jonathan Auerbach sold 40,749 shares of the business’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of $100.62, for a total transaction of $4,100,164.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel H. Schulman purchased 7,994 shares of the stock in a transaction dated Thursday, February 3rd. The stock was acquired at an average cost of $124.57 per share, for a total transaction of $995,812.58. The disclosure for this purchase can be found here. Insiders acquired 24,894 shares of company stock valued at $2,965,405 in the last ninety days. Insiders own 0.10% of the company’s stock.

A number of large investors have recently made changes to their positions in PYPL. Monte Financial Group LLC increased its position in PayPal by 94.0% in the 1st quarter. Monte Financial Group LLC now owns 7,732 shares of the credit services provider’s stock worth $894,000 after buying an additional 3,747 shares during the period. Grove Bank & Trust grew its stake in shares of PayPal by 7.6% in the first quarter. Grove Bank & Trust now owns 6,896 shares of the credit services provider’s stock worth $798,000 after acquiring an additional 487 shares during the last quarter. KG&L Capital Management LLC increased its position in PayPal by 44.3% during the first quarter. KG&L Capital Management LLC now owns 17,019 shares of the credit services provider’s stock worth $1,968,000 after acquiring an additional 5,224 shares during the period. Matrix Asset Advisors Inc. NY acquired a new position in PayPal during the 1st quarter valued at $8,652,000. Finally, Everett Harris & Co. CA raised its stake in PayPal by 9.6% during the 1st quarter. Everett Harris & Co. CA now owns 91,434 shares of the credit services provider’s stock valued at $10,574,000 after purchasing an additional 7,983 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

About PayPal (Get Rating)

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.

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