PayPal (NASDAQ:PYPL) Price Target Increased to $65.00 by Analysts at Wells Fargo & Company

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

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. decreased their price objective on PayPal from $75.00 to $70.00 and set an overweight rating on the stock in a report on Thursday, February 8th. UBS Group upped their price objective on PayPal from $63.00 to $71.00 and gave the stock a neutral rating in a report on Wednesday. Daiwa Capital Markets cut PayPal from an outperform rating to a neutral rating and decreased their price objective for the stock from $64.00 to $62.00 in a report on Tuesday, February 13th. BTIG Research reaffirmed a neutral rating on shares of PayPal in a report on Friday, January 5th. Finally, Robert W. Baird upped their price objective on PayPal from $70.00 to $77.00 and gave the stock an outperform rating in a report on Wednesday. Twenty-five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $72.73.

PayPal Stock Down 2.6 %

NASDAQ PYPL opened at $66.14 on Wednesday. The stock’s 50 day moving average is $63.39 and its 200 day moving average is $60.39. The company has a current ratio of 1.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.47. PayPal has a 12 month low of $50.25 and a 12 month high of $76.54. The stock has a market cap of $69.62 billion, a PE ratio of 16.66, a P/E/G ratio of 1.26 and a beta of 1.41.

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

Insiders Place Their Bets

In related news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the sale, the senior vice president now directly owns 23,430 shares in the company, valued at approximately $1,420,795.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On PayPal

A number of hedge funds have recently made changes to their positions in the stock. Hartford Financial Management Inc. lifted its stake in shares of PayPal by 18.8% during the 4th quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock worth $63,000 after purchasing an additional 163 shares during the last quarter. Pine Haven Investment Counsel Inc raised its stake in PayPal by 3.7% in the fourth quarter. Pine Haven Investment Counsel Inc now owns 4,705 shares of the credit services provider’s stock valued at $289,000 after buying an additional 170 shares during the last quarter. Brooks Moore & Associates Inc. raised its stake in PayPal by 1.3% in the third quarter. Brooks Moore & Associates Inc. now owns 14,391 shares of the credit services provider’s stock valued at $841,000 after buying an additional 180 shares during the last quarter. Waldron Private Wealth LLC raised its stake in PayPal by 1.9% in the fourth quarter. Waldron Private Wealth LLC now owns 9,619 shares of the credit services provider’s stock valued at $590,000 after buying an additional 182 shares during the last quarter. Finally, Indiana Trust & Investment Management CO raised its stake in PayPal by 18.6% in the first quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock valued at $79,000 after buying an additional 184 shares during the last quarter. 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.