PayPal (NASDAQ:PYPL) PT Raised to $70.00

PayPal (NASDAQ:PYPL) had its price objective boosted by JMP Securities from $68.00 to $70.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a market outperform rating on the credit services provider’s stock.

PYPL has been the subject of a number of other reports. Wells Fargo & Company increased their price target on PayPal from $55.00 to $60.00 and gave the company an equal weight rating in a research report on Monday, January 29th. Susquehanna lifted their target price on PayPal from $61.00 to $65.00 and gave the stock a neutral rating in a research note on Wednesday, January 24th. StockNews.com upgraded shares of PayPal from a hold rating to a buy rating in a research report on Friday, April 5th. Mizuho lowered their price objective on shares of PayPal from $65.00 to $60.00 and set a neutral rating on the stock in a research report on Thursday, February 8th. Finally, William Blair reiterated an outperform rating on shares of PayPal in a research note on Thursday, February 8th. Twenty-three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $70.47.

PayPal Price Performance

PYPL opened at $62.31 on Wednesday. The firm’s fifty day moving average price is $62.34 and its two-hundred day moving average price is $59.93. The company has a market capitalization of $65.59 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 1.44 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29. PayPal has a 1 year low of $50.25 and a 1 year high of $76.54.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.12. The business had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 earnings per share. As a group, analysts anticipate that PayPal will post 3.93 earnings per share for the current fiscal year.

Insider Buying and Selling at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the transaction, the senior vice president now owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of PayPal in the fourth quarter worth approximately $25,000. Sutton Wealth Advisors Inc. raised its position in shares of PayPal by 115.0% during the 3rd quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock valued at $26,000 after buying an additional 237 shares in the last quarter. PCA Investment Advisory Services Inc. bought a new stake in shares of PayPal during the 2nd quarter worth $27,000. Main Street Group LTD purchased a new position in PayPal in the fourth quarter worth $27,000. Finally, American National Bank purchased a new stake in PayPal during the first quarter valued at about $27,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

About PayPal

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.