PayPal (NASDAQ:PYPL) Given New $45.00 Price Target at Sanford C. Bernstein

PayPal (NASDAQ:PYPL) had its target price cut by investment analysts at Sanford C. Bernstein from $62.00 to $45.00 in a research note issued on Monday,MarketScreener reports. The brokerage currently has a “market perform” rating on the credit services provider’s stock. Sanford C. Bernstein’s target price points to a potential upside of 12.00% from the stock’s current price.

Several other research firms have also issued reports on PYPL. Mizuho set a $60.00 price objective on shares of PayPal in a research report on Wednesday. TD Cowen restated a “hold” rating on shares of PayPal in a report on Tuesday, February 3rd. Macquarie Infrastructure increased their price objective on shares of PayPal from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Raymond James Financial set a $48.00 target price on shares of PayPal in a research report on Tuesday, February 3rd. Finally, Morgan Stanley decreased their target price on shares of PayPal from $50.00 to $34.00 and set an “underweight” rating for the company in a research note on Wednesday. Ten equities research analysts have rated the stock with a Buy rating, thirty have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $62.46.

PayPal Stock Up 0.7%

Shares of NASDAQ PYPL opened at $40.18 on Monday. The stock has a market capitalization of $36.99 billion, a PE ratio of 7.47, a P/E/G ratio of 0.79 and a beta of 1.43. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.49. The firm has a fifty day moving average of $57.18 and a 200-day moving average of $64.27. PayPal has a 52-week low of $38.88 and a 52-week high of $79.50.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, February 3rd. The credit services provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.06). PayPal had a net margin of 15.77% and a return on equity of 25.42%. The firm had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same period last year, the firm posted $1.19 EPS. PayPal’s revenue was up 4.0% on a year-over-year basis. On average, analysts anticipate that PayPal will post 5.03 EPS for the current year.

Insider Buying and Selling at PayPal

In related news, insider Suzan Kereere sold 4,162 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $59.84, for a total transaction of $249,054.08. Following the completion of the sale, the insider directly owned 30,983 shares of the company’s stock, valued at approximately $1,854,022.72. This represents a 11.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On PayPal

Hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in PayPal during the 2nd quarter valued at $921,570,000. Vanguard Group Inc. lifted its stake in shares of PayPal by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 90,376,927 shares of the credit services provider’s stock valued at $5,276,205,000 after buying an additional 5,534,462 shares during the period. Dimensional Fund Advisors LP grew its position in PayPal by 35.9% during the third quarter. Dimensional Fund Advisors LP now owns 8,177,536 shares of the credit services provider’s stock worth $548,520,000 after buying an additional 2,160,227 shares in the last quarter. Lazard Asset Management LLC grew its position in PayPal by 1,066.0% during the second quarter. Lazard Asset Management LLC now owns 2,106,215 shares of the credit services provider’s stock worth $156,532,000 after buying an additional 1,925,583 shares in the last quarter. Finally, Two Sigma Investments LP bought a new position in PayPal during the third quarter valued at about $97,794,000. 68.32% of the stock is owned by institutional investors.

PayPal Company Profile

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.

Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.