Sanford C. Bernstein Increases PayPal (NASDAQ:PYPL) Price Target to $68.00

PayPal (NASDAQ:PYPL) had its target price boosted by analysts at Sanford C. Bernstein from $66.00 to $68.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the credit services provider’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 9.13% from the company’s current price.

Several other research analysts have also weighed in on the stock. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Oppenheimer reiterated a “market perform” rating on shares of PayPal in a research note on Thursday, January 25th. Monness Crespi & Hardt dropped their price objective on shares of PayPal from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. BTIG Research reiterated a “neutral” rating on shares of PayPal in a research note on Friday, January 5th. Finally, DZ Bank lowered shares of PayPal from a “buy” rating to a “hold” rating and set a $60.00 price objective on the stock. in a research note on Friday, February 9th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $70.47.

PayPal Stock Up 0.3 %

Shares of NASDAQ:PYPL opened at $62.31 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $65.59 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 1.44 and a beta of 1.45. PayPal has a 52 week low of $50.25 and a 52 week high of $76.54. The firm has a 50 day simple moving average of $62.34 and a 200 day simple moving average of $59.93.

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

Insider Buying and Selling at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the transaction, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Horizon Bancorp Inc. IN bought a new position in shares of PayPal during the 1st quarter worth about $71,000. Teamwork Financial Advisors LLC increased its position in shares of PayPal by 7.6% during the 1st quarter. Teamwork Financial Advisors LLC now owns 11,922 shares of the credit services provider’s stock worth $799,000 after purchasing an additional 847 shares in the last quarter. Veracity Capital LLC increased its position in shares of PayPal by 123.1% during the 1st quarter. Veracity Capital LLC now owns 8,698 shares of the credit services provider’s stock worth $583,000 after purchasing an additional 4,800 shares in the last quarter. Tran Capital Management L.P. increased its position in shares of PayPal by 1.1% during the 1st quarter. Tran Capital Management L.P. now owns 572,013 shares of the credit services provider’s stock worth $38,319,000 after purchasing an additional 6,140 shares in the last quarter. Finally, Tempus Wealth Planning LLC increased its position in shares of PayPal by 73.1% during the 1st quarter. Tempus Wealth Planning LLC now owns 11,354 shares of the credit services provider’s stock worth $761,000 after purchasing an additional 4,795 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

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.