PayPal (NASDAQ:PYPL) PT Raised to $65.00

PayPal (NASDAQ:PYPL) had its price target increased by Wells Fargo & Company from $60.00 to $65.00 in a report released on Wednesday, Benzinga reports. They currently have an equal weight rating on the credit services provider’s stock.

A number of other equities research analysts have also recently issued reports on the stock. BTIG Research reaffirmed a neutral rating on shares of PayPal in a research note on Friday, January 5th. Needham & Company LLC restated a hold rating on shares of PayPal in a research report on Tuesday, April 30th. Royal Bank of Canada lifted their price objective on PayPal from $74.00 to $84.00 and gave the stock an outperform rating in a report on Wednesday. Canaccord Genuity Group dropped their target price on PayPal from $100.00 to $80.00 and set a buy rating for the company in a report on Thursday, February 8th. Finally, UBS Group lifted their price target on PayPal from $63.00 to $71.00 and gave the stock a neutral rating in a research note on Wednesday. Twenty-five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, PayPal presently has a consensus rating of Hold and an average target price of $72.73.

PayPal Trading Down 1.9 %

Shares of PYPL stock opened at $65.70 on Wednesday. The company has a market capitalization of $68.73 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 1.22 and a beta of 1.41. PayPal has a 52-week low of $50.25 and a 52-week high of $76.54. The business’s fifty day moving average is $63.69 and its 200 day moving average is $60.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.29 and a current ratio of 1.28.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share 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 quarter last year, the company posted $0.86 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts anticipate that PayPal will post 4.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the transaction, the senior vice president now directly owns 23,430 shares in the company, valued at approximately $1,420,795.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PayPal

A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in PayPal in the 4th quarter worth approximately $749,561,000. Nordea Investment Management AB increased its stake in shares of PayPal by 420.6% in 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 in the last quarter. FMR LLC raised its position in shares of PayPal by 29.5% during the 3rd 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 lifted its stake in shares of PayPal by 271.6% during the 3rd quarter. LSV Asset Management now owns 1,533,300 shares of the credit services provider’s stock valued at $89,637,000 after buying an additional 1,120,700 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of PayPal by 125.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after buying an additional 958,130 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Company Profile

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.