Barclays Cuts PayPal (NASDAQ:PYPL) Price Target to $80.00

PayPal (NASDAQ:PYPL) had its price objective lowered by Barclays from $110.00 to $80.00 in a report published on Tuesday, MarketBeat Ratings reports. The firm currently has an overweight rating on the credit services provider’s stock.

Several other research firms have also weighed in on PYPL. Wells Fargo & Company reissued an “equal weight” rating on shares of PayPal in a research note on Wednesday, February 5th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PayPal in a research report on Tuesday, February 4th. Morgan Stanley boosted their price objective on shares of PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Bank of America lowered their target price on shares of PayPal from $103.00 to $93.00 and set a “buy” rating for the company in a research note on Monday. Finally, Citigroup reissued an “outperform” rating on shares of PayPal in a research report on Wednesday, February 5th. Sixteen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and an average target price of $86.84.

PayPal Trading Up 1.3 %

Shares of NASDAQ PYPL opened at $61.00 on Tuesday. PayPal has a 1-year low of $55.85 and a 1-year high of $93.66. 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 company has a 50-day moving average of $68.53 and a two-hundred day moving average of $79.28. The company has a market cap of $60.34 billion, a PE ratio of 15.21, a P/E/G ratio of 1.27 and a beta of 1.60.

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

Insider Transactions at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the company’s 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 sale, the director now directly owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On PayPal

A number of large investors have recently added to or reduced their stakes in PYPL. Geode Capital Management LLC boosted its holdings in shares of PayPal by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider’s stock worth $1,849,884,000 after acquiring an additional 271,836 shares during the period. FMR LLC increased its stake in PayPal by 12.9% in the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock valued at $1,615,134,000 after acquiring an additional 2,161,582 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of PayPal by 108.2% during the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock worth $1,529,823,000 after buying an additional 9,313,783 shares in the last quarter. Norges Bank bought a new position in shares of PayPal in the fourth quarter worth about $1,086,508,000. Finally, Northern Trust Corp lifted its stake in PayPal by 19.0% in the 4th quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider’s stock valued at $892,953,000 after purchasing an additional 1,669,908 shares during the last quarter. Institutional investors 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.