Rare bearish call on PayPal

|About: PayPal Holdings, Inc. (PYPL)|By:, SA News Editor

National Bank AG cuts PayPal (NASDAQ:PYPL) to a Sell rating on a call tied to valuation concerns.

Analyst Markus Glockenmeier had PayPal pegged at Buy previously. He is now one of only three out of 48 analysts covering PayPal with a bearish view (31 Buys, 14 Holds, 3 Sells), according to Bloomberg.

Glockenmeier's note to investors recommends that they take profits (via Google Translate).

PYPL -1.15% premarket to $42.40.