Wells Fargo & Company Cuts PayPal (NASDAQ:PYPL) Price Target to $74.00

PayPal (NASDAQ:PYPL) had its price objective reduced by Wells Fargo & Company from $80.00 to $74.00 in a report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the credit services provider’s stock.

Several other research firms have also recently commented on PYPL. Susquehanna increased their price objective on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research report on Monday, January 6th. Morgan Stanley lifted their price target on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Monness Crespi & Hardt lowered their price objective on shares of PayPal from $120.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. StockNews.com lowered shares of PayPal from a “buy” rating to a “hold” rating in a research note on Monday, April 14th. Finally, BTIG Research restated a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.84.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $61.00 on Wednesday. The business has a fifty day moving average price of $68.22 and a 200-day moving average price of $79.17. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $60.34 billion, a PE ratio of 15.21, a PEG 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.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the business earned $1.48 EPS. PayPal’s revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts expect that PayPal will post 5.03 EPS for the current fiscal year.

Insider Buying and Selling

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 in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PayPal

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

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.