Citigroup Trims PayPal (NASDAQ:PYPL) Target Price to $73.00

PayPal (NASDAQ:PYPLFree Report) had its price objective reduced by Citigroup from $76.00 to $73.00 in a report issued on Thursday morning, Benzinga reports. They currently have a buy rating on the credit services provider’s stock.

Several other research firms also recently weighed in on PYPL. Morgan Stanley reaffirmed an equal weight rating and issued a $66.00 target price (down from $118.00) on shares of PayPal in a research report on Tuesday, January 9th. JMP Securities dropped their target price on PayPal from $85.00 to $68.00 and set a market outperform rating for the company in a research report on Friday, November 3rd. The Goldman Sachs Group dropped their target price on PayPal from $89.00 to $80.00 and set a buy rating for the company in a research report on Thursday, November 2nd. Wedbush reissued an outperform rating and set a $85.00 price objective on shares of PayPal in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered their price objective on PayPal from $100.00 to $80.00 and set an overweight rating for the company in a research report on Thursday, November 2nd. Twenty-two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, PayPal currently has a consensus rating of Hold and a consensus price target of $70.90.

Read Our Latest Analysis on PayPal

PayPal Stock Up 5.0 %

Shares of NASDAQ:PYPL opened at $58.91 on Thursday. The business has a 50-day moving average price of $61.27 and a 200 day moving average price of $60.03. The company has a current ratio of 1.29, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $64.80 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 0.84 and a beta of 1.47. PayPal has a 12-month low of $50.25 and a 12-month high of $82.85.

PayPal (NASDAQ:PYPLGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. The firm had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $1.01 EPS. Sell-side analysts expect that PayPal will post 4.32 EPS for the current year.

Insider Buying and Selling at PayPal

In other PayPal news, EVP Peggy Alford sold 15,000 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $56.76, for a total value of $851,400.00. Following the sale, the executive vice president now owns 40,601 shares of the company’s stock, valued at $2,304,512.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PayPal news, EVP Peggy Alford sold 15,000 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $56.76, for a total value of $851,400.00. Following the sale, the executive vice president now owns 40,601 shares of the company’s stock, valued at $2,304,512.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan Auerbach sold 64,957 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $55.58, for a total value of $3,610,310.06. Following the completion of the sale, the insider now directly owns 79,051 shares in the company, valued at approximately $4,393,654.58. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of PayPal

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Linscomb & Williams Inc. lifted its position in shares of PayPal by 3.8% in the fourth quarter. Linscomb & Williams Inc. now owns 24,733 shares of the credit services provider’s stock valued at $1,519,000 after acquiring an additional 909 shares in the last quarter. Skopos Labs Inc. purchased a new position in PayPal during the fourth quarter worth about $274,000. HCR Wealth Advisors lifted its position in PayPal by 26.8% during the fourth quarter. HCR Wealth Advisors now owns 5,524 shares of the credit services provider’s stock worth $339,000 after buying an additional 1,168 shares during the period. Team Hewins LLC purchased a new position in PayPal during the fourth quarter worth about $384,000. Finally, Oxford Asset Management LLP purchased a new position in PayPal during the fourth quarter worth about $230,000. 68.42% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Company Profile

(Get Free Report)

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.

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