Wells Fargo & Company Issues Pessimistic Forecast for PayPal (NASDAQ:PYPL) Stock Price

PayPal (NASDAQ:PYPL) had its price objective decreased by investment analysts at Wells Fargo & Company from $80.00 to $74.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the credit services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 21.21% from the company’s previous close.

A number of other brokerages have also issued reports on PYPL. Citigroup restated an “outperform” rating on shares of PayPal in a research note on Wednesday, February 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a report on Wednesday, February 26th. Susquehanna upped their target price on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research report on Monday, January 6th. Robert W. Baird reduced their price target on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, March 31st. Sixteen 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 stock. Based on data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and an average price target of $86.84.

PayPal Stock Down 1.5 %

Shares of PYPL stock traded down $0.95 during mid-day trading on Wednesday, hitting $61.05. The stock had a trading volume of 2,433,722 shares, compared to its average volume of 11,434,138. The firm has a market capitalization of $60.39 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. PayPal has a 12-month low of $55.85 and a 12-month high of $93.66. The firm’s 50-day moving average is $69.21 and its two-hundred day moving average is $79.53.

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

Insider Transactions at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mpwm Advisory Solutions LLC purchased a new position in PayPal in the fourth quarter worth approximately $25,000. Rosenberg Matthew Hamilton raised its holdings in shares of PayPal by 67.6% in 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 in the last quarter. Hurley Capital LLC purchased a new stake in shares of PayPal during the 4th quarter worth $27,000. Sugarloaf Wealth Management LLC grew its stake in shares of PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares in the last quarter. Finally, Bernard Wealth Management Corp. purchased a new position in PayPal in the fourth quarter valued at $34,000. 68.32% of the stock is owned by institutional investors and hedge funds.

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.