PayPal (NASDAQ:PYPL) Price Target Raised to $68.00

PayPal (NASDAQ:PYPL) had its price objective lifted by Mizuho from $60.00 to $68.00 in a report published on Wednesday, Benzinga reports. Mizuho currently has a neutral rating on the credit services provider’s stock.

PYPL has been the topic of several other reports. JMP Securities boosted their price target on shares of PayPal from $70.00 to $82.00 and gave the stock a market outperform rating in a report on Wednesday. DZ Bank downgraded PayPal from a buy rating to a hold rating and set a $60.00 target price on the stock. in a research note on Friday, February 9th. Oppenheimer reaffirmed a market perform rating on shares of PayPal in a research report on Thursday, January 25th. Royal Bank of Canada reissued an outperform rating and issued a $74.00 price objective on shares of PayPal in a research report on Thursday, March 21st. Finally, William Blair reaffirmed an outperform rating on shares of PayPal in a research report on Thursday, February 8th. Twenty-five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, PayPal currently has a consensus rating of Hold and a consensus target price of $72.73.

PayPal Stock Performance

Shares of PayPal stock opened at $65.70 on Wednesday. PayPal has a 52 week low of $50.25 and a 52 week high of $76.54. The company has a quick ratio of 1.29, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $63.56 and a 200-day moving average price of $60.44. The company has a market cap 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 (NASDAQ:PYPL) last released 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 net margin of 14.26% and a return on equity of 21.58%. The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts anticipate that PayPal will post 4.07 earnings per share for the current fiscal year.

Insider Transactions at PayPal

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

Hedge Funds Weigh In On PayPal

Large investors have recently modified their holdings of the company. Pittenger & Anderson Inc. raised its stake in shares of PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of PayPal during the 4th quarter valued at $25,000. American National Bank purchased a new position in PayPal in the 1st quarter worth $27,000. Sutton Wealth Advisors Inc. lifted its stake in PayPal by 115.0% in the third quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 237 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new position in shares of PayPal during the first quarter valued at about $30,000. 68.32% of the stock is owned by hedge funds and other 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.