Paypal (PYPL) PT Lowered to $103.00

Paypal (NASDAQ:PYPL) had its target price lowered by Nomura from $120.00 to $103.00 in a note issued to investors on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the credit services provider’s stock. Nomura’s price objective indicates a potential upside of 30.33% from the stock’s current price.

A number of other research analysts have also recently commented on the company. BidaskClub cut Paypal from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Bank of America restated a “buy” rating and set a $98.00 price objective (up previously from $88.00) on shares of Paypal in a research note on Tuesday, June 26th. Stifel Nicolaus boosted their price objective on Paypal from $99.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Loop Capital boosted their price objective on Paypal to $80.00 and gave the stock a “hold” rating in a research note on Wednesday, June 20th. Finally, Royal Bank of Canada restated a “buy” rating and set a $87.00 price objective on shares of Paypal in a research note on Monday, June 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-three have given a buy rating to the company. Paypal presently has an average rating of “Buy” and an average price target of $91.89.

Paypal stock traded up $3.13 during midday trading on Thursday, reaching $79.03. The stock had a trading volume of 13,964,698 shares, compared to its average volume of 8,617,697. Paypal has a twelve month low of $66.16 and a twelve month high of $93.70. The stock has a market capitalization of $103.97 billion, a P/E ratio of 56.86, a PEG ratio of 2.86 and a beta of 1.31.

Paypal (NASDAQ:PYPL) last issued its earnings results on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.17. Paypal had a return on equity of 12.91% and a net margin of 14.02%. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter last year, the firm earned $0.46 earnings per share. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, analysts predict that Paypal will post 1.73 EPS for the current fiscal year.

In other news, VP Aaron Anderson sold 17,062 shares of Paypal stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $88.22, for a total transaction of $1,505,209.64. Following the sale, the vice president now directly owns 9,921 shares of the company’s stock, valued at $875,230.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO William J. Ready sold 38,878 shares of Paypal stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $88.22, for a total value of $3,429,817.16. Following the sale, the chief operating officer now directly owns 119,215 shares in the company, valued at $10,517,147.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 149,732 shares of company stock worth $13,204,157. Corporate insiders own 0.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. increased its holdings in Paypal by 50.8% in the second quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock valued at $142,000 after buying an additional 580 shares during the last quarter. M&R Capital Management Inc. increased its holdings in Paypal by 10.5% in the second quarter. M&R Capital Management Inc. now owns 6,180 shares of the credit services provider’s stock valued at $514,000 after buying an additional 585 shares during the last quarter. Twin Capital Management Inc. increased its holdings in Paypal by 1.0% in the second quarter. Twin Capital Management Inc. now owns 58,010 shares of the credit services provider’s stock valued at $4,830,000 after buying an additional 600 shares during the last quarter. Bremer Trust National Association increased its holdings in Paypal by 4.5% in the second quarter. Bremer Trust National Association now owns 13,952 shares of the credit services provider’s stock valued at $1,162,000 after buying an additional 605 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. increased its holdings in Paypal by 19.7% in the second quarter. Laurel Wealth Advisors Inc. now owns 3,744 shares of the credit services provider’s stock valued at $311,000 after buying an additional 615 shares during the last quarter. 79.59% of the stock is owned by hedge funds and other institutional investors.

Paypal Company Profile

PayPal Holdings, Inc operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

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