PayPal (NASDAQ:PYPL) Lowered to “Neutral” at Credit Suisse Group

Posted by on May 10th, 2023

Credit Suisse Group cut shares of PayPal (NASDAQ:PYPL – Get Rating) from an outperform rating to a neutral rating in a research report report published on Tuesday morning, The Fly reports. The firm currently has $85.00 price objective on the credit services provider’s stock, down from their prior price objective of $100.00.

Several other equities analysts have also commented on PYPL. Wedbush reduced their target price on shares of PayPal from $100.00 to $85.00 and set an outperform rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PayPal from $140.00 to $100.00 and set a buy rating on the stock in a report on Tuesday, January 31st. Wells Fargo & Company increased their target price on shares of PayPal from $95.00 to $97.00 and gave the company an overweight rating in a report on Friday, February 10th. Mizuho reduced their target price on shares of PayPal from $100.00 to $92.00 and set a buy rating on the stock in a report on Wednesday, April 19th. Finally, JPMorgan Chase & Co. increased their target price on shares of PayPal from $95.00 to $103.00 and gave the company an overweight rating in a report on Friday, February 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $102.52.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $65.91 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $74.00 billion, a P/E ratio of 31.38, a P/E/G ratio of 1.12 and a beta of 1.31. The stock’s 50-day simple moving average is $74.19 and its two-hundred day simple moving average is $76.73. PayPal has a twelve month low of $65.85 and a twelve month high of $103.03.

PayPal (NASDAQ:PYPL – Get Rating) last issued its quarterly earnings results on Monday, May 8th. The credit services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. The business had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.99 billion. PayPal had a net margin of 8.79% and a return on equity of 17.48%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $0.54 earnings per share. As a group, equities analysts anticipate that PayPal will post 3.84 EPS for the current fiscal year.

Insider Activity at PayPal

In other PayPal news, CEO Daniel H. Schulman purchased 26,065 shares of the stock in a transaction that occurred on Friday, February 17th. The stock was bought at an average cost of $76.17 per share, with a total value of $1,985,371.05. Following the transaction, the chief executive officer now directly owns 395,351 shares in the company, valued at approximately $30,113,885.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Buckingham Strategic Partners raised its holdings in PayPal by 3.5% in the third quarter. Buckingham Strategic Partners now owns 3,593 shares of the credit services provider’s stock worth $309,000 after buying an additional 122 shares during the last quarter. North Star Investment Management Corp. raised its holdings in PayPal by 2.0% in the third quarter. North Star Investment Management Corp. now owns 6,487 shares of the credit services provider’s stock worth $558,000 after buying an additional 125 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. grew its stake in shares of PayPal by 27.1% in the fourth quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 610 shares of the credit services provider’s stock worth $43,000 after acquiring an additional 130 shares during the period. Triumph Capital Management grew its stake in shares of PayPal by 2.0% in the fourth quarter. Triumph Capital Management now owns 6,930 shares of the credit services provider’s stock worth $494,000 after acquiring an additional 135 shares during the period. Finally, Bryn Mawr Capital Management LLC grew its stake in shares of PayPal by 1.2% in the first quarter. Bryn Mawr Capital Management LLC now owns 11,072 shares of the credit services provider’s stock worth $841,000 after acquiring an additional 135 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

PayPal Company Profile

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PayPal Holdings, Inc engages in the development of technology platforms for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. It manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.

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