Paypal Holdings Inc (PYPL) is Downgraded by Canaccord Genuity to Hold, Lowers Price Target to $ 40

Paypal Holdings Inc (PYPL) was Downgraded by Canaccord Genuity to ” Hold” while Lowering the Price Target of the company shares to $ 40 from a previous price target of $45 . Earlier the firm had a rating of “Buy ” on the company shares. Canaccord Genuity advised their investors in a research report released on Sep 19, 2016.

Many Wall Street Analysts have commented on Paypal Holdings Inc. Craig Hallum Initiated Paypal Holdings Inc on Sep 15, 2016 to “Buy”, Price Target of the shares are set at $52.Paypal Holdings Inc was Downgraded by Wells Fargo to ” Market Perform” on Jul 22, 2016. Shares were Reiterated by Barclays on Jul 7, 2016 to “Overweight” and Lowered the Price Target to $ 42 from a previous price target of $46 .

On the company’s financial health, Paypal Holdings Inc reported $0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.35. The company had revenue of $2544.00 million for the quarter, compared to analysts expectations of $2499.93 million. The company’s revenue was up 19.0% compared to the same quarter last year.

Paypal Holdings Inc closed down -0.13 points or -0.32% at $40.7 with 11,909,449 shares getting traded on Friday. Post opening the session at $40.71, the shares hit an intraday low of $40.3248 and an intraday high of $40.88 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Aug 8, 2016, William J Ready (SVP, Global Head Product & Eng) sold 48,963 shares at $38.00 per share price. According to the SEC, on Jul 29, 2016, Tomer Barel (SVP, Chief Risk Officer) sold 5,862 shares at $37.21 per share price. On Feb 3, 2016, David M Moffett (director) sold 15,971 shares at $36.08 per share price, according to the Form-4 filing with the securities and exchange commission.

PayPal Holdings Inc. (PayPal) is a technology platform company which enables digital and mobile payments on behalf of consumers and merchants around the world. The Company focuses on its consumers merchants friends and family to access and move their money through its platform using various devices such as mobile tablets personal computers and wearables. It provides businesses of various sizes to accept payments from merchant Websites mobile devices and applications and at offline retail locations through a range of payment solutions across its Payments Platform including PayPal PayPal Credit Venmo and Braintree products. PayPal gateway products include Payflow Payments and Braintree products. The Company enables its consumers to fund a purchase using a bank account a PayPal account balance a PayPal Credit account a credit or debit card or other stored value products such as coupons and gift cards.

Paypal Holdings Inc

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