PayPal (NASDAQ:PYPL) Price Target Lowered to $93.00 at Bank of America

PayPal (NASDAQ:PYPL) had its target price lowered by investment analysts at Bank of America from $103.00 to $93.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the credit services provider’s stock. Bank of America‘s target price suggests a potential upside of 48.59% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods dropped their target price 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. Barclays upped their price target on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Wednesday, February 26th. Finally, StockNews.com cut PayPal from a “buy” rating to a “hold” rating in a research report on Monday. Sixteen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, PayPal has an average rating of “Moderate Buy” and an average price target of $88.00.

PayPal Stock Performance

Shares of PYPL opened at $62.59 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal has a 12 month low of $55.85 and a 12 month high of $93.66. The company’s fifty day moving average is $69.88 and its 200-day moving average is $79.76. The firm has a market cap of $61.92 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60.

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

Insider Activity

In other PayPal 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 transaction of $176,478.90. Following the sale, the director now owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This represents a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PayPal

Institutional investors have recently modified their holdings of the stock. Mpwm Advisory Solutions LLC acquired a new stake in shares of PayPal in the 4th quarter valued at $25,000. Rosenberg Matthew Hamilton boosted its holdings in PayPal by 67.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 125 shares during the last quarter. Hurley Capital LLC acquired a new stake in PayPal in the fourth quarter worth about $27,000. Sugarloaf Wealth Management LLC raised its holdings in PayPal by 344.3% during the 4th 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 during the last quarter. Finally, Bernard Wealth Management Corp. acquired a new position in PayPal during the 4th quarter valued at about $34,000. 68.32% of the stock is owned by 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.