Paypal (NASDAQ:PYPL) Downgraded by Guggenheim

Guggenheim cut shares of Paypal (NASDAQ:PYPL) from a neutral rating to a sell rating in a report issued on Monday morning, BenzingaRatingsTable reports.

PYPL has been the topic of several other reports. JPMorgan Chase & Co. boosted their price objective on shares of Paypal from $105.00 to $125.00 and gave the company an overweight rating in a report on Friday, June 14th. BTIG Research set a $130.00 price objective on shares of Paypal and gave the company a buy rating in a report on Wednesday, July 24th. SunTrust Banks boosted their price objective on shares of Paypal to $115.00 and gave the company a hold rating in a report on Thursday, April 25th. They noted that the move was a valuation call. BidaskClub upgraded shares of Paypal from a buy rating to a strong-buy rating in a report on Friday, May 17th. Finally, Oppenheimer boosted their price objective on shares of Paypal from $116.00 to $125.00 and gave the company an outperform rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $120.81.

Shares of NASDAQ PYPL traded down $3.27 during trading on Monday, hitting $107.53. 130,026 shares of the company were exchanged, compared to its average volume of 6,164,885. Paypal has a 12-month low of $74.66 and a 12-month high of $121.48. The company’s fifty day moving average is $116.78. The stock has a market cap of $131.83 billion, a price-to-earnings ratio of 59.92, a PEG ratio of 2.59 and a beta of 0.98.

Paypal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.56 by $0.12. Paypal had a return on equity of 17.14% and a net margin of 15.36%. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the previous year, the firm earned $0.58 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts expect that Paypal will post 2.41 EPS for the current fiscal year.

In other news, EVP Aaron Karczmer sold 3,110 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $115.71, for a total transaction of $359,858.10. Following the completion of the transaction, the executive vice president now directly owns 15,041 shares of the company’s stock, valued at $1,740,394.11. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jonathan Auerbach sold 8,730 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $113.80, for a total value of $993,474.00. Following the transaction, the executive vice president now directly owns 120,470 shares of the company’s stock, valued at $13,709,486. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,840 shares of company stock valued at $11,336,732. 0.15% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Next Capital Management LLC grew its position in shares of Paypal by 400.4% during the second quarter. Next Capital Management LLC now owns 1,151 shares of the credit services provider’s stock worth $132,000 after buying an additional 921 shares in the last quarter. TimesSquare Capital Management LLC boosted its holdings in Paypal by 3.4% in the second quarter. TimesSquare Capital Management LLC now owns 82,000 shares of the credit services provider’s stock valued at $9,386,000 after purchasing an additional 2,730 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Paypal in the second quarter valued at approximately $1,696,000. Eukles Asset Management acquired a new position in Paypal in the second quarter valued at approximately $1,429,000. Finally, Parsons Capital Management Inc. RI boosted its holdings in Paypal by 16.0% in the second quarter. Parsons Capital Management Inc. RI now owns 36,813 shares of the credit services provider’s stock valued at $4,214,000 after purchasing an additional 5,064 shares in the last quarter. 80.97% of the stock is owned by institutional investors and hedge funds.

About Paypal

PayPal Holdings, Inc operates as a technology platform and digital payments 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 iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

Read More: How to Invest in Marijuana Stocks

Analyst Recommendations for Paypal (NASDAQ:PYPL)

Receive News & Ratings for Paypal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paypal and related companies with MarketBeat.com's FREE daily email newsletter.