PayPal (PYPL) Stock: Insiders Sell $2.4M in Shares as Price Targets Drop
TLDR
- Wall Street Zen downgraded PayPal stock from Buy to Hold, joining a cautious analyst consensus of 12 Buys, 27 Holds, and 4 Sells with an average price target of $76.05.
- PayPal beat Q3 expectations with EPS of $1.34 versus $1.20 estimated and revenue of $8.42 billion versus $8.21 billion expected.
- The stock opened at $56.89 on Friday, trading near its 12-month low of $55.85 and down from a 52-week high of $93.25.
- Multiple analysts recently lowered price targets, including Stephens cutting from $75 to $65 and Robert W. Baird dropping from $83 to $66.
- Company insiders sold approximately 36,156 shares worth $2.43 million over the last 90 days while the stock trades at under 10 times forward earnings.
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