PayPal (NASDAQ:PYPL) Stock Rating Upgraded by Piper Sandler

PayPal (NASDAQ:PYPL) was upgraded by equities researchers at Piper Sandler to a “neutral” rating in a research note issued on Tuesday, MarketBeat reports. The firm currently has a $74.00 target price on the credit services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 1.27% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. DZ Bank raised PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Friday, February 28th. Wells Fargo & Company reduced their price objective on PayPal from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Royal Bank Of Canada reduced their price objective on PayPal from $104.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Wall Street Zen raised PayPal from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Finally, UBS Group reduced their price objective on PayPal from $88.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $83.42.

PayPal Trading Down 0.7%

Shares of NASDAQ PYPL opened at $73.07 on Tuesday. PayPal has a 12 month low of $55.85 and a 12 month high of $93.66. The company has a market cap of $71.06 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 1.22 and a beta of 1.45. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $69.66 and a 200-day simple moving average of $74.91.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.16 by $0.17. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The business had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. During the same period in the prior year, the business posted $1.08 earnings per share. PayPal’s revenue was up 1.2% compared to the same quarter last year. Sell-side analysts predict that PayPal will post 5.03 EPS for the current year.

Insider Activity

In other PayPal news, EVP Diego Scotti sold 3,839 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $281,168.36. Following the sale, the executive vice president now owns 16,989 shares of the company’s stock, valued at $1,244,274.36. This trade represents a 18.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Deborah M. Messemer sold 3,795 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.00, for a total value of $277,035.00. Following the completion of the sale, the director now directly owns 13,976 shares in the company, valued at $1,020,248. This trade represents a 21.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,796 shares of company stock valued at $863,028. Insiders own 0.08% of the company’s stock.

Institutional Trading of PayPal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Avalon Trust Co lifted its position in shares of PayPal by 7.0% in the 4th quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider’s stock worth $176,000 after acquiring an additional 135 shares during the period. Security National Bank of SO Dak lifted its position in shares of PayPal by 1.1% in the 4th quarter. Security National Bank of SO Dak now owns 12,191 shares of the credit services provider’s stock worth $1,041,000 after acquiring an additional 137 shares during the period. Gordian Capital Singapore Pte Ltd lifted its position in shares of PayPal by 41.2% in the 1st quarter. Gordian Capital Singapore Pte Ltd now owns 473 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 138 shares during the period. Stegent Equity Advisors Inc. lifted its position in shares of PayPal by 3.2% in the 4th quarter. Stegent Equity Advisors Inc. now owns 4,546 shares of the credit services provider’s stock worth $388,000 after acquiring an additional 142 shares during the period. Finally, CreativeOne Wealth LLC lifted its position in shares of PayPal by 1.5% in the 1st quarter. CreativeOne Wealth LLC now owns 9,387 shares of the credit services provider’s stock worth $613,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.