PayPal (NASDAQ:PYPL) Price Target Cut to $88.00 by Analysts at Royal Bank of Canada

PayPal (NASDAQ:PYPL - Get Free Report) had its target price lowered by stock analysts at Royal Bank of Canada from $104.00 to $88.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the credit services provider's stock. Royal Bank of Canada's price target would indicate a potential upside of 35.95% from the company's current price.

• Traders Started Betting on PayPal's Rally Again

A number of other analysts have also commented on the company. Wells Fargo & Company cut their price target on PayPal from $80.00 to $74.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Robert W. Baird upped their price target on PayPal from $78.00 to $79.00 and gave the stock an "outperform" rating in a research report on Wednesday. Bank of America decreased their price target on shares of PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Arete Research set a $81.00 target price on shares of PayPal in a research report on Thursday, March 27th. Finally, Citigroup reissued an "outperform" rating on shares of PayPal in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.72.

View Our Latest Analysis on PayPal

PayPal Trading Down 2.4 %

• PayPal Stock: Too Cheap to Ignore, Too Strong to Miss

PYPL traded down $1.59 during mid-day trading on Wednesday, hitting $64.73. The stock had a trading volume of 3,892,313 shares, compared to its average volume of 11,429,696. PayPal has a 1-year low of $55.85 and a 1-year high of $93.66. The firm has a market capitalization of $63.27 billion, a price-to-earnings ratio of 16.14, 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. The stock's fifty day simple moving average is $66.27 and its 200-day simple moving average is $78.39.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.17. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $7.79 billion during the quarter, compared to analysts' expectations of $7.84 billion. During the same period in the prior year, the business earned $1.08 EPS. PayPal's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts forecast that PayPal will post 5.03 EPS for the current fiscal year.

Insider Activity

• Rising E-Commerce Sales May Spark a Stock Breakout—What to Buy

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

Institutional Trading of PayPal

Several large investors have recently bought and sold shares of the business. Cornerstone Planning Group LLC grew its stake in shares of PayPal by 41.7% during the first quarter. Cornerstone Planning Group LLC now owns 666 shares of the credit services provider's stock worth $42,000 after buying an additional 196 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of PayPal by 7.9% in the first quarter. Linden Thomas Advisory Services LLC now owns 7,414 shares of the credit services provider's stock worth $484,000 after acquiring an additional 546 shares during the period. Greenleaf Trust increased its position in PayPal by 4.1% during the 1st quarter. Greenleaf Trust now owns 199,911 shares of the credit services provider's stock valued at $13,044,000 after purchasing an additional 7,851 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in PayPal by 1.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 567,496 shares of the credit services provider's stock worth $36,059,000 after purchasing an additional 5,698 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in shares of PayPal by 2.4% in the 1st quarter. Valeo Financial Advisors LLC now owns 41,679 shares of the credit services provider's stock valued at $2,720,000 after purchasing an additional 978 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

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.

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