Canaccord Genuity downgraded shares of Paypal Holdings Inc. (NASDAQ:PYPL) from a buy rating to a hold rating in a research report report published on Monday morning. The firm currently has $40.00 target price on the stock, down from their previous target price of $45.00.

Analyst Recommendations for Paypal Holdings (NASDAQ:PYPL)

PYPL has been the subject of several other reports. Evercore ISI reiterated a sell rating and issued a $34.00 price target on shares of Paypal Holdings in a report on Tuesday, July 26th. RBC Capital Markets reissued an outperform rating and set a $46.00 price objective on shares of Paypal Holdings in a research note on Wednesday, August 3rd. Piper Jaffray Cos. reissued a sell rating on shares of Paypal Holdings in a research note on Monday, June 27th. Jefferies Group reissued a buy rating and set a $48.00 price objective on shares of Paypal Holdings in a research note on Thursday, June 2nd. Finally, Wedbush reissued an outperform rating and set a $50.00 price objective on shares of Paypal Holdings in a research note on Monday, August 1st. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty have assigned a buy rating to the company. Paypal Holdings presently has a consensus rating of Hold and a consensus price target of $43.68.

Shares of Paypal Holdings (NASDAQ:PYPL) opened at 40.01 on Monday. The stock has a market cap of $47.29 billion, a P/E ratio of 36.37 and a beta of 1.13. The stock has a 50 day moving average price of $38.14 and a 200-day moving average price of $38.34. Paypal Holdings has a 52 week low of $30.30 and a 52 week high of $41.75.

Paypal Holdings (NASDAQ:PYPL) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The company earned $2.65 billion during the quarter, compared to the consensus estimate of $2.60 billion. Paypal Holdings had a return on equity of 10.60% and a net margin of 13.55%. During the same period in the previous year, the firm posted $0.32 EPS. Equities analysts predict that Paypal Holdings will post $1.50 EPS for the current fiscal year.

In related news, SVP William J. Ready sold 48,963 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $38.00, for a total transaction of $1,860,594.00. Following the completion of the sale, the senior vice president now directly owns 56,943 shares in the company, valued at $2,163,834. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP William J. Ready sold 26,037 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $38.04, for a total transaction of $990,447.48. Following the sale, the senior vice president now owns 105,906 shares of the company’s stock, valued at $4,028,664.24. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Paypal Holdings during the second quarter valued at approximately $1,626,000. Kentucky Retirement Systems purchased a new stake in shares of Paypal Holdings during the second quarter valued at approximately $3,424,000. KAMES CAPITAL plc increased its stake in shares of Paypal Holdings by 22.4% in the second quarter. KAMES CAPITAL plc now owns 44,395 shares of the company’s stock valued at $1,621,000 after buying an additional 8,129 shares during the period. Mason Street Advisors LLC purchased a new stake in shares of Paypal Holdings during the second quarter valued at approximately $5,424,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Paypal Holdings by 7.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 32,506 shares of the company’s stock valued at $1,187,000 after buying an additional 2,372 shares during the period. Hedge funds and other institutional investors own 78.89% of the company’s stock.

Paypal Holdings Company Profile

PayPal Holdings, Inc (PayPal) is a technology platform company that enables digital and mobile payments on behalf of consumers and merchants across the world. The Company allows businesses of all sizes to accept payments from merchant Websites, mobile devices and applications, and at offline retail locations through a range of payment solutions.

5 Day Chart for NASDAQ:PYPL

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