Investors Sell Paypal (PYPL) on Strength After Analyst Downgrade
Traders sold shares of Paypal Holdings Inc (NASDAQ:PYPL) on strength during trading hours on Thursday after Nomura lowered their price target on the stock from $120.00 to $103.00. $317.37 million flowed into the stock on the tick-up and $392.08 million flowed out of the stock on the tick-down, for a money net flow of $74.71 million out of the stock. Of all stocks tracked, Paypal had the 0th highest net out-flow for the day. Paypal traded up $0.45 for the day and closed at $75.90
A number of other research analysts have also issued reports on PYPL. BidaskClub lowered Paypal from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Bank of America reiterated a “buy” rating and set a $98.00 price target (up previously from $88.00) on shares of Paypal in a research report on Tuesday, June 26th. Stifel Nicolaus boosted their price target on Paypal from $99.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Loop Capital boosted their price target on Paypal to $80.00 and gave the stock a “hold” rating in a research report on Wednesday, June 20th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $87.00 price target on shares of Paypal in a research report on Monday, June 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $91.89.
In other Paypal news, EVP Aaron Karczmer sold 10,330 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $88.22, for a total value of $911,312.60. Following the completion of the transaction, the executive vice president now owns 12,174 shares of the company’s stock, valued at approximately $1,073,990.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel H. Schulman sold 26,000 shares of the company’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $89.57, for a total value of $2,328,820.00. Following the completion of the transaction, the insider now directly owns 331,506 shares of the company’s stock, valued at approximately $29,692,992.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 149,732 shares of company stock valued at $13,204,157. Insiders own 0.20% of the company’s stock.
The stock has a market capitalization of $103.97 billion, a P/E ratio of 57.13, a P/E/G ratio of 2.86 and a beta of 1.31.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 25th. The credit services provider reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.17. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.81 billion. Paypal had a return on equity of 12.91% and a net margin of 14.02%. Paypal’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 EPS. Research analysts forecast that Paypal Holdings Inc will post 1.73 earnings per share for the current fiscal year.
About Paypal (NASDAQ:PYPL)
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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