Canaccord Genuity Downgrades Paypal Holdings Inc to Hold with Price Target $40.00

Brokerage firm Canaccord Genuity Downgrades its rating on Paypal Holdings Inc(NASDAQ:PYPL). In a research note issued to the investors, the brokerage major Lowers the price-target to $40.00 per share. The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Canaccord Genuity was issued on Sep 19, 2016.

In a different note, Craig-Hallum said it Initiates Coverage on Paypal Holdings Inc, according to a research note issued on Sep 15, 2016. The shares have been rated ‘Buy’ by the firm. On Jul 22, 2016, Credit Suisse said it Maintains its rating on Paypal Holdings Inc. In the research note, the firm Raises the price-target to $42.00 per share. The shares have been rated ‘Outperform’ by the firm. On Jul 22, 2016, Citigroup said it Maintains its rating on Paypal Holdings Inc. The shares have been rated ‘Buy’ by the firm. On Jul 22, 2016, UBS said it Maintains its rating on Paypal Holdings Inc. The shares have been rated ‘Neutral’ by the firm. On Jul 22, 2016, Wells Fargo said it Downgrades its rating on Paypal Holdings Inc. The shares have been rated ‘Market Perform’ by the firm. On Jul 22, 2016, William Blair said it Maintains its rating on Paypal Holdings Inc. The shares have been rated ‘Outperform’ by the firm.

Paypal Holdings Inc (PYPL) made into the market gainers list on Thursdays trading session with the shares advancing 0.50% or 0.2 points. Due to strong positive momentum, the stock ended at $40.49, which is also near the day’s high of $40.66. The stock began the session at $40.42 and the volume stood at 56,91,048 shares. The 52-week high of the shares is $41.75 and the 52 week low is $30.3. The company has a current market capitalization of $48,868 M and it has 1,20,69,18,020 shares in outstanding.

Paypal Holdings Inc(PYPL) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.65B. Analysts had an estimated revenue of $2.60B. Earnings per share were $0.36. Analysts had estimated an EPS of $0.36.

Several Insider Transactions has been reported to the SEC. On Aug 8, 2016, William J Ready (SVP, Global Head Product & Eng) sold 48,963 shares at $38.00 per share price.Also, 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.

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