Paypal (NASDAQ:PYPL) Price Target Raised to $129.00

Paypal (NASDAQ:PYPL) had its price objective boosted by Morgan Stanley from $114.00 to $129.00 in a research report sent to investors on Wednesday morning, The Fly reports. They currently have an overweight rating on the credit services provider’s stock.

Several other analysts have also recently issued reports on PYPL. BTIG Research upped their price target on shares of Paypal from $114.00 to $130.00 and gave the company a buy rating in a report on Monday, May 6th. They noted that the move was a valuation call. Nomura upped their price target on shares of Visa from $175.00 to $178.00 and gave the company a buy rating in a report on Thursday, April 25th. KeyCorp upped their price target on shares of Zynga from $5.00 to $6.00 and gave the company an overweight rating in a report on Monday, April 29th. Craig Hallum reaffirmed a buy rating and issued a $125.00 price target (up from $103.00) on shares of Lithia Motors in a report on Thursday, April 25th. Finally, Zacks Investment Research cut shares of GasLog Partners LP Unit from a hold rating to a strong sell rating in a report on Tuesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $111.18.

NASDAQ PYPL opened at $120.12 on Wednesday. The stock’s fifty day moving average price is $114.43. Paypal has a 52 week low of $74.66 and a 52 week high of $121.00. The firm has a market capitalization of $141.76 billion, a PE ratio of 61.24, a P/E/G ratio of 3.00 and a beta of 0.98.

Paypal (NASDAQ:PYPL) last posted its earnings results on Wednesday, April 24th. The credit services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Paypal had a net margin of 13.92% and a return on equity of 15.50%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share. As a group, sell-side analysts expect that Paypal will post 2.25 earnings per share for the current year.

In other news, COO William J. Ready sold 46,038 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $108.77, for a total transaction of $5,007,553.26. Following the completion of the transaction, the chief operating officer now owns 88,098 shares in the company, valued at $9,582,419.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Adele Louise Pentland sold 11,520 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $109.07, for a total transaction of $1,256,486.40. Following the transaction, the executive vice president now owns 63,408 shares of the company’s stock, valued at approximately $6,915,910.56. The disclosure for this sale can be found here. Insiders have sold 180,714 shares of company stock worth $19,911,348 over the last three months. 0.15% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in PYPL. Semmax Financial Advisors Inc. grew its position in shares of Paypal by 630.2% during the first quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock worth $33,000 after acquiring an additional 271 shares during the last quarter. Private Ocean LLC grew its position in Paypal by 386.7% in the 1st quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock valued at $38,000 after buying an additional 290 shares in the last quarter. Liberty Wealth Management LLC bought a new position in Paypal in the 4th quarter valued at about $39,000. CX Institutional grew its position in Paypal by 605.7% in the 1st quarter. CX Institutional now owns 374 shares of the credit services provider’s stock valued at $39,000 after buying an additional 321 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in Paypal in the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 80.87% of the company’s stock.

About Paypal

PayPal Holdings, Inc operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

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Analyst Recommendations for Paypal (NASDAQ:PYPL)

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