PayPal (NASDAQ:PYPL) Price Target Raised to $65.00

PayPal (NASDAQ:PYPL) had its target price lifted by Evercore ISI from $60.00 to $65.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an in-line rating on the credit services provider’s stock.

PYPL has been the subject of a number of other reports. William Blair reiterated an outperform rating on shares of PayPal in a research report on Thursday, February 8th. Citigroup dropped their target price on shares of PayPal from $76.00 to $73.00 and set a buy rating for the company in a report on Thursday, February 8th. Sanford C. Bernstein raised their price target on PayPal from $66.00 to $68.00 and gave the company a market perform rating in a report on Thursday, April 18th. JPMorgan Chase & Co. lowered their price objective on PayPal from $75.00 to $70.00 and set an overweight rating on the stock in a research report on Thursday, February 8th. Finally, DZ Bank cut PayPal from a buy rating to a hold rating and set a $60.00 target price for the company. in a research report on Friday, February 9th. Twenty-five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, PayPal presently has an average rating of Hold and an average target price of $72.73.

PayPal Price Performance

Shares of PayPal stock opened at $66.14 on Wednesday. The stock has a market cap of $69.62 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.26 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.29 and a current ratio of 1.28. The stock’s fifty day moving average is $63.39 and its 200 day moving average is $60.39. PayPal has a one year low of $50.25 and a one year high of $76.54.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same period last year, the business earned $0.86 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that PayPal will post 4.02 earnings per share for the current year.

Insider Buying and Selling

In other PayPal news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now owns 23,430 shares in the company, valued at $1,420,795.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Norges Bank purchased a new position in PayPal during the 4th quarter valued at $749,561,000. Nordea Investment Management AB lifted its position in shares of PayPal by 420.6% during the third quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock worth $190,371,000 after purchasing an additional 2,616,774 shares during the last quarter. FMR LLC boosted its stake in shares of PayPal by 29.5% during the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after purchasing an additional 1,575,930 shares during the period. LSV Asset Management grew its holdings in shares of PayPal by 271.6% in the third quarter. LSV Asset Management now owns 1,533,300 shares of the credit services provider’s stock worth $89,637,000 after purchasing an additional 1,120,700 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in PayPal by 125.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after buying an additional 958,130 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

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.