PayPal (NASDAQ:PYPL) PT Raised to $70.00

PayPal (NASDAQ:PYPL) had its price target raised by analysts at JMP Securities from $68.00 to $70.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “market outperform” rating on the credit services provider’s stock. JMP Securities’ price objective would suggest a potential upside of 12.72% from the company’s previous close.

PYPL has been the topic of several other reports. Evercore ISI upped their price target on shares of PayPal from $56.00 to $60.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 26th. BMO Capital Markets dropped their price target on shares of PayPal from $65.00 to $60.00 and set a “market perform” rating on the stock in a research report on Thursday, February 8th. Citigroup dropped their price target on shares of PayPal from $76.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Morgan Stanley reissued an “equal weight” rating and issued a $66.00 price objective (down from $118.00) on shares of PayPal in a research report on Tuesday, January 9th. Finally, William Blair reissued an “outperform” rating on shares of PayPal in a research report on Thursday, February 8th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, PayPal presently has a consensus rating of “Hold” and a consensus target price of $70.47.

PayPal Stock Performance

Shares of PYPL stock opened at $62.10 on Wednesday. The company’s fifty day simple moving average is $62.27 and its 200-day simple moving average is $59.90. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46. The firm has a market cap of $65.37 billion, a PE ratio of 16.17, a P/E/G ratio of 1.44 and a beta of 1.45. PayPal has a 12 month low of $50.25 and a 12 month high of $76.54.

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

Insider Activity

In other news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction that occurred 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 sale, 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 filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PayPal

A number of hedge funds have recently made changes to their positions in PYPL. Quattro Financial Advisors LLC raised its holdings in PayPal by 8,096.7% in the 1st quarter. Quattro Financial Advisors LLC now owns 5,000 shares of the credit services provider’s stock valued at $335,000 after buying an additional 4,939 shares during the last quarter. Applied Capital LLC FL raised its stake in shares of PayPal by 19.9% during the first quarter. Applied Capital LLC FL now owns 4,188 shares of the credit services provider’s stock valued at $281,000 after acquiring an additional 695 shares during the last quarter. Narus Financial Partners LLC raised its stake in shares of PayPal by 7.7% during the first quarter. Narus Financial Partners LLC now owns 5,662 shares of the credit services provider’s stock valued at $379,000 after acquiring an additional 404 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of PayPal by 1.2% during the first quarter. Farmers & Merchants Investments Inc. now owns 156,976 shares of the credit services provider’s stock worth $10,516,000 after purchasing an additional 1,812 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in PayPal by 18.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock valued at $15,686,000 after purchasing an additional 36,994 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.