PayPal (NASDAQ:PYPL) Given New $65.00 Price Target at BMO Capital Markets

PayPal (NASDAQ:PYPL) had its target price increased by BMO Capital Markets from $64.00 to $65.00 in a report published on Wednesday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the credit services provider’s stock.

PYPL has been the subject of several other research reports. Citigroup decreased their price target on PayPal from $76.00 to $73.00 and set a buy rating for the company in a research note on Thursday, February 8th. Robert W. Baird raised their price target on shares of PayPal from $70.00 to $77.00 and gave the stock an outperform rating in a report on Wednesday. Monness Crespi & Hardt boosted their price target on shares of PayPal from $80.00 to $88.00 and gave the stock a buy rating in a research report on Monday, April 29th. Evercore ISI increased their price objective on shares of PayPal from $60.00 to $65.00 and gave the stock an in-line rating in a research report on Wednesday. Finally, Needham & Company LLC reissued a hold rating on shares of PayPal in a research note on Tuesday. Twenty-five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, PayPal has a consensus rating of Hold and a consensus target price of $72.73.

PayPal Stock Performance

PayPal stock opened at $65.70 on Wednesday. The business has a 50 day moving average of $63.56 and a 200-day moving average of $60.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.29. PayPal has a 1 year low of $50.25 and a 1 year high of $76.54. The company has a market capitalization of $68.73 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.22 and a beta of 1.41.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same quarter last year, the company posted $0.86 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that PayPal will post 4.07 earnings per share for the current year.

Insiders Place Their Bets

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 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 owns 23,430 shares in the company, valued at $1,420,795.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Several large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its holdings in shares of PayPal by 15.7% in the first quarter. Geneos Wealth Management Inc. now owns 42,005 shares of the credit services provider’s stock valued at $2,814,000 after acquiring an additional 5,689 shares in the last quarter. Valley Wealth Managers Inc. boosted its position in PayPal by 1.0% in the first quarter. Valley Wealth Managers Inc. now owns 253,999 shares of the credit services provider’s stock worth $17,015,000 after purchasing an additional 2,403 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in PayPal in the 1st quarter valued at $5,485,000. Callan Capital LLC raised its stake in shares of PayPal by 5.6% during the 1st quarter. Callan Capital LLC now owns 4,180 shares of the credit services provider’s stock worth $280,000 after purchasing an additional 220 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of PayPal during the 1st quarter worth $289,000. 68.32% of the stock is currently owned by 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.