PayPal (NASDAQ:PYPL) Price Target Lowered to $93.00 at Bank of America

PayPal (NASDAQ:PYPL) had its price objective reduced by Bank of America from $103.00 to $93.00 in a report published on Monday, MarketBeat.com reports. They currently have a buy rating on the credit services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research note on Wednesday, February 26th. Macquarie upped their price target on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Barclays boosted their price objective on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI started coverage on shares of PayPal in a report on Wednesday, April 9th. They issued an “in-line” rating and a $65.00 price target on the stock. Finally, Arete Research set a $81.00 target price on shares of PayPal in a research report on Thursday, March 27th. Sixteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

PayPal Stock Down 0.5 %

PayPal stock opened at $62.27 on Monday. The company has a market capitalization of $61.60 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.27 and a beta of 1.60. PayPal has a 1-year low of $55.85 and a 1-year high of $93.66. The firm’s fifty day simple moving average is $69.54 and its 200-day simple moving average is $79.65. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.

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

Insider Activity at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal 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 completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PayPal

Institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of PayPal during the fourth quarter worth $1,086,508,000. Capital Research Global Investors lifted its position in shares of PayPal by 108.2% during the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock valued at $1,529,823,000 after acquiring an additional 9,313,783 shares during the period. Artisan Partners Limited Partnership increased its position in shares of PayPal by 284.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock worth $666,100,000 after purchasing an additional 5,772,198 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in PayPal by 174.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after purchasing an additional 2,689,162 shares during the period. Finally, FMR LLC raised its position in shares of PayPal by 12.9% in 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 buying an additional 2,161,582 shares in the last quarter. 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.