SMBC Nikko downgraded its rating of PayPal Holdings PYPL to Underperform with a price target of $75.00, changing its price target from $95.00 to $75.00.
Shares of PayPal Holdings are trading down 3.0% over the last 24 hours, at $77.78 per share.
A move to $75.00 would account for a 3.57% decline from the current share price.
About PayPal Holdings
PayPal was spun off from eBay in 2015 and provides electronic payment solutions to merchants and consumers, with a focus on online transactions. The company had 426 million active accounts at the end of 2021, including 34 million merchant accounts. The company also owns Xoom, an international money transfer business, and Venmo, a person-to-person payment platform.
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