PayPal (NASDAQ:PYPL) Price Target Cut to $72.00 by Analysts at HSBC

PayPal (NASDAQ:PYPLFree Report) had its price objective lowered by HSBC from $93.00 to $72.00 in a report published on Tuesday,MarketScreener reports. The brokerage currently has a buy rating on the credit services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald began coverage on shares of PayPal in a research report on Monday. They set a “neutral” rating and a $60.00 price objective for the company. KGI Securities cut their target price on PayPal from $85.00 to $80.00 in a report on Monday, November 10th. Macquarie boosted their price target on shares of PayPal from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Morgan Stanley reissued a “negative” rating on shares of PayPal in a research note on Wednesday, October 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research report on Tuesday, October 28th. Twelve equities research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, PayPal currently has an average rating of “Hold” and a consensus price target of $74.87.

Read Our Latest Report on PYPL

PayPal Price Performance

PYPL stock opened at $55.51 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.56. The firm has a market cap of $51.94 billion, a P/E ratio of 11.12, a P/E/G ratio of 0.71 and a beta of 1.42. The company’s 50-day moving average price is $59.41 and its two-hundred day moving average price is $65.82. PayPal has a 12 month low of $55.01 and a 12 month high of $90.93.

PayPal (NASDAQ:PYPLGet Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. The business had revenue of $8.42 billion for the quarter, compared to analysts’ expectations of $8.21 billion. PayPal had a net margin of 14.96% and a return on equity of 25.64%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share. On average, analysts anticipate that PayPal will post 5.03 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Diego Scotti sold 3,838 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $68.97, for a total transaction of $264,706.86. Following the completion of the transaction, the executive vice president owned 16,989 shares in the company, valued at approximately $1,171,731.33. This represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Suzan Kereere sold 12,500 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $68.87, for a total value of $860,875.00. Following the transaction, the insider directly owned 30,983 shares of the company’s stock, valued at approximately $2,133,799.21. This trade represents a 28.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 36,156 shares of company stock worth $2,432,524 in the last quarter. 0.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Wedmont Private Capital lifted its stake in PayPal by 1.6% in the 3rd quarter. Wedmont Private Capital now owns 9,157 shares of the credit services provider’s stock worth $614,000 after purchasing an additional 142 shares in the last quarter. Dakota Community Bank & Trust NA boosted its stake in shares of PayPal by 8.7% in the 2nd quarter. Dakota Community Bank & Trust NA now owns 1,840 shares of the credit services provider’s stock valued at $137,000 after purchasing an additional 147 shares in the last quarter. Maia Wealth LLC boosted its position in PayPal by 2.5% during the third quarter. Maia Wealth LLC now owns 6,404 shares of the credit services provider’s stock valued at $424,000 after buying an additional 155 shares during the period. Transatlantique Private Wealth LLC boosted its holdings in PayPal by 2.9% during the 3rd quarter. Transatlantique Private Wealth LLC now owns 5,698 shares of the credit services provider’s stock valued at $382,000 after acquiring an additional 159 shares during the period. Finally, WCG Wealth Advisors LLC boosted its stake in shares of PayPal by 1.1% during the second quarter. WCG Wealth Advisors LLC now owns 14,285 shares of the credit services provider’s stock valued at $1,062,000 after purchasing an additional 162 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal News Roundup

Here are the key news stories impacting PayPal this week:

About PayPal

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PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.

Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.

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Analyst Recommendations for PayPal (NASDAQ:PYPL)

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