Paypal (PYPL) Price Target Lowered to $88.00 at SunTrust Banks

Paypal (NASDAQ:PYPL) had its price target decreased by SunTrust Banks to $88.00 in a report published on Friday, The Fly reports. SunTrust Banks currently has a hold rating on the credit services provider’s stock.

Other research analysts have also recently issued research reports about the company. Robert W. Baird lifted their target price on Paypal from $88.00 to $96.00 and gave the company an outperform rating in a research report on Thursday, July 26th. BTIG Research upgraded Paypal from a neutral rating to a buy rating and lifted their target price for the company from $81.00 to $95.00 in a research report on Friday. Stephens reiterated a buy rating and issued a $91.00 target price on shares of Paypal in a research report on Friday, July 13th. Oppenheimer lifted their target price on Paypal from $90.00 to $95.00 and gave the company an outperform rating in a research report on Thursday, July 26th. Finally, Cantor Fitzgerald lifted their target price on Paypal to $98.00 and gave the company an overweight rating in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-four have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $92.65.

Shares of NASDAQ PYPL traded up $7.30 during mid-day trading on Friday, reaching $84.78. The company had a trading volume of 34,136,589 shares, compared to its average volume of 11,462,846. Paypal has a one year low of $68.61 and a one year high of $93.70. The stock has a market capitalization of $91.71 billion, a P/E ratio of 60.99, a PEG ratio of 2.51 and a beta of 1.31.

Paypal (NASDAQ:PYPL) last issued its quarterly earnings results on Thursday, October 18th. The credit services provider reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.04. Paypal had a return on equity of 13.58% and a net margin of 13.98%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the business earned $0.46 earnings per share. Paypal’s revenue was up 13.7% on a year-over-year basis. Research analysts anticipate that Paypal will post 1.74 earnings per share for the current year.

In related news, insider Daniel H. Schulman sold 26,000 shares of Paypal stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $89.57, for a total value of $2,328,820.00. Following the transaction, the insider now directly owns 331,506 shares of the company’s stock, valued at $29,692,992.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Aaron Anderson sold 17,062 shares of Paypal 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 $1,505,209.64. Following the completion of the transaction, the vice president now directly owns 9,921 shares in the company, valued at $875,230.62. The disclosure for this sale can be found here. Insiders have sold 149,732 shares of company stock worth $13,204,157 over the last three months. Insiders own 0.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Archford Capital Strategies LLC lifted its stake in shares of Paypal by 92.6% in the second quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock worth $108,000 after acquiring an additional 625 shares during the period. Landaas & Co. WI ADV acquired a new position in shares of Paypal in the second quarter worth approximately $135,000. Adviser Investments LLC lifted its stake in shares of Paypal by 165.3% in the second quarter. Adviser Investments LLC now owns 1,653 shares of the credit services provider’s stock worth $138,000 after acquiring an additional 1,030 shares during the period. Itau Unibanco Holding S.A. lifted its stake in shares of Paypal by 50.8% in the second quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock worth $142,000 after acquiring an additional 580 shares during the period. Finally, ELM Advisors LLC acquired a new position in shares of Paypal in the third quarter worth approximately $149,000. 79.71% of the stock is currently owned by institutional investors.

Paypal Company Profile

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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