Credit Suisse Group Trims Paypal (PYPL) Target Price to $88.00

Paypal (NASDAQ:PYPL) had its price target decreased by Credit Suisse Group from $91.00 to $88.00 in a research note released on Wednesday morning, MarketBeat Ratings reports. Credit Suisse Group currently has an outperform rating on the credit services provider’s stock.

A number of other research analysts also recently issued reports on PYPL. Craig Hallum restated a buy rating and issued a $83.00 price target (up from $67.00) on shares of Paypal in a research report on Tuesday, October 17th. Stephens raised their price target on shares of Paypal from $65.00 to $73.00 and gave the stock an overweight rating in a research report on Tuesday, October 17th. Citigroup raised their price target on shares of Paypal from $67.00 to $77.00 and gave the stock a buy rating in a research report on Wednesday, October 18th. KeyCorp reiterated an overweight rating and issued a $75.00 price objective (up from $70.00) on shares of Paypal in a research report on Wednesday, October 18th. Finally, Cantor Fitzgerald reiterated a buy rating and issued a $79.00 price objective on shares of Paypal in a research report on Friday, October 20th. Nine equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $76.97.

Paypal (PYPL) opened at $78.37 on Wednesday. Paypal has a 52-week low of $41.70 and a 52-week high of $86.32. The stock has a market cap of $94,280.00 and a PE ratio of 48.38.

Paypal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. Paypal had a net margin of 13.71% and a return on equity of 11.59%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period last year, the firm posted $0.42 EPS. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. sell-side analysts forecast that Paypal will post 1.75 EPS for the current year.

In other Paypal news, EVP Adele Louise Pentland sold 6,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $78.11, for a total transaction of $468,660.00. Following the transaction, the executive vice president now owns 46,045 shares of the company’s stock, valued at approximately $3,596,574.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rodney C. Adkins bought 6,750 shares of the stock in a transaction on Friday, December 8th. The shares were bought at an average cost of $74.04 per share, for a total transaction of $499,770.00. Following the purchase, the director now owns 10,149 shares in the company, valued at approximately $751,431.96. The disclosure for this purchase can be found here. In the last three months, insiders have sold 126,344 shares of company stock worth $9,818,481. 6.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Colony Group LLC acquired a new position in shares of Paypal in the 2nd quarter worth approximately $280,000. Public Employees Retirement System of Ohio grew its stake in shares of Paypal by 1.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 814,699 shares of the credit services provider’s stock worth $43,725,000 after purchasing an additional 9,019 shares during the last quarter. North Star Asset Management Inc. grew its stake in shares of Paypal by 0.6% in the 2nd quarter. North Star Asset Management Inc. now owns 177,307 shares of the credit services provider’s stock worth $9,516,000 after purchasing an additional 1,082 shares during the last quarter. WINTON GROUP Ltd grew its stake in shares of Paypal by 178.9% in the 2nd quarter. WINTON GROUP Ltd now owns 139,366 shares of the credit services provider’s stock worth $7,480,000 after purchasing an additional 89,390 shares during the last quarter. Finally, Bangor Savings Bank grew its stake in shares of Paypal by 34.1% in the 2nd quarter. Bangor Savings Bank now owns 16,736 shares of the credit services provider’s stock worth $898,000 after purchasing an additional 4,256 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

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About Paypal

PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.

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