Piper Sandler Cuts PayPal (NASDAQ:PYPL) Price Target to $76.00

PayPal (NASDAQ:PYPL) had its price objective reduced by Piper Sandler from $85.00 to $76.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the credit services provider’s stock.

PYPL has been the subject of a number of other reports. Citigroup reaffirmed an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Robert W. Baird lowered their price target on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Barclays upped their price objective on PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Macquarie lifted their target price on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Finally, StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.03.

PayPal Stock Up 0.5 %

PYPL stock opened at $71.07 on Wednesday. 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 market cap of $70.30 billion, a PE ratio of 17.72, a PEG ratio of 1.27 and a beta of 1.44. The company has a fifty day simple moving average of $83.61 and a 200 day simple moving average of $80.94. PayPal has a 1 year low of $56.97 and a 1 year high of $93.66.

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

Insider Buying and Selling at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the transaction, the director now directly owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in PayPal by 40.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 73,537 shares of the credit services provider’s stock valued at $5,738,000 after purchasing an additional 21,002 shares during the period. Pallas Capital Advisors LLC acquired a new stake in shares of PayPal during the third quarter worth $723,000. Strategic Blueprint LLC bought a new stake in shares of PayPal in the third quarter valued at about $255,000. Fidelis Capital Partners LLC grew its stake in shares of PayPal by 6.1% in the third quarter. Fidelis Capital Partners LLC now owns 5,107 shares of the credit services provider’s stock valued at $413,000 after acquiring an additional 295 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its position in PayPal by 11.9% during the third quarter. First Trust Direct Indexing L.P. now owns 29,706 shares of the credit services provider’s stock worth $2,318,000 after acquiring an additional 3,162 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

About PayPal

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.