PayPal (NASDAQ:PYPL) Given New $74.00 Price Target at Wells Fargo & Company

PayPal (NASDAQ:PYPL - Free Report) had its price target lowered by Wells Fargo & Company from $80.00 to $74.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the credit services provider's stock.

A number of other brokerages have also recently commented on PYPL. Monness Crespi & Hardt dropped their price target on PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Macquarie upped their price objective on shares of PayPal from $115.00 to $117.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Evercore ISI began coverage on shares of PayPal in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 target price for the company. Piper Sandler cut their price objective on shares of PayPal from $85.00 to $76.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating on shares of PayPal in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PayPal has an average rating of "Moderate Buy" and an average target price of $86.84.

PayPal Stock Performance

NASDAQ:PYPL traded up $0.76 during trading on Wednesday, reaching $61.00. The company's stock had a trading volume of 9,020,112 shares, compared to its average volume of 11,483,897. The firm has a 50 day moving average of $68.22 and a 200-day moving average of $79.17. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $60.34 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. PayPal has a 12 month low of $55.85 and a 12 month high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion for the quarter, compared to analysts' expectations of $8.27 billion. During the same period in the previous year, the company earned $1.48 earnings per share. The company's quarterly revenue was up 4.2% on a year-over-year basis. Research analysts expect that PayPal will post 5.03 EPS for the current fiscal year.

Insider Transactions at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction 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 sale, the director now directly owns 29,734 shares of the company's stock, valued at $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On PayPal

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Anchor Investment Management LLC raised its holdings in PayPal by 9.9% during the 3rd quarter. Anchor Investment Management LLC now owns 35,219 shares of the credit services provider's stock valued at $2,748,000 after buying an additional 3,175 shares during the last quarter. Boyar Asset Management Inc. purchased a new stake in shares of PayPal in the 3rd quarter worth about $208,000. World Investment Advisors LLC bought a new position in shares of PayPal during the third quarter valued at approximately $5,296,000. Sfmg LLC purchased a new position in PayPal during the third quarter valued at $234,000. Finally, Wilmington Savings Fund Society FSB boosted its stake in PayPal by 196.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,221 shares of the credit services provider's stock worth $798,000 after purchasing an additional 6,772 shares in 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.