PayPal (NASDAQ:PYPL) Price Target Increased to $70.00 by Analysts at JMP Securities

PayPal (NASDAQ:PYPL) had its price objective upped by JMP Securities from $68.00 to $70.00 in a report issued on Wednesday, Benzinga reports. They currently have a market outperform rating on the credit services provider’s stock.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company upped their price objective on shares of PayPal from $55.00 to $60.00 and gave the company an equal weight rating in a research note on Monday, January 29th. Stephens reaffirmed an equal weight rating and set a $70.00 price objective on shares of PayPal in a research note on Thursday, February 8th. Morgan Stanley reaffirmed an equal weight rating and set a $66.00 price objective (down from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. Oppenheimer reissued a market perform rating on shares of PayPal in a research note on Thursday, January 25th. Finally, Wedbush reissued an outperform rating and issued a $85.00 price target on shares of PayPal in a research note on Thursday, February 8th. Twenty-three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, PayPal currently has a consensus rating of Hold and a consensus price target of $70.53.

PayPal Stock Performance

PayPal stock opened at $63.26 on Wednesday. The company has a market capitalization of $66.59 billion, a PE ratio of 16.47, a P/E/G ratio of 1.44 and a beta of 1.45. The firm has a fifty day simple moving average of $62.15 and a two-hundred day simple moving average of $59.89. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46. PayPal has a twelve month low of $50.25 and a twelve month high of $77.94.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data 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 firm 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 company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 earnings per share. Research analysts expect that PayPal will post 3.93 EPS for the current year.

Insider Activity

In other news, SVP Frank Keller sold 7,686 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were 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 filing with the SEC, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On PayPal

A number of institutional investors have recently made changes to their positions in the company. Vestcor Inc grew its holdings in shares of PayPal by 0.5% during the fourth quarter. Vestcor Inc now owns 26,063 shares of the credit services provider’s stock valued at $1,856,000 after buying an additional 140 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its position in PayPal by 1.0% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 15,056 shares of the credit services provider’s stock valued at $1,072,000 after purchasing an additional 143 shares during the period. Oxford Financial Group Ltd. lifted its position in PayPal by 4.9% during the first quarter. Oxford Financial Group Ltd. now owns 3,196 shares of the credit services provider’s stock valued at $370,000 after purchasing an additional 150 shares during the period. Donaldson Capital Management LLC lifted its position in PayPal by 5.3% during the first quarter. Donaldson Capital Management LLC now owns 3,095 shares of the credit services provider’s stock valued at $358,000 after purchasing an additional 155 shares during the period. Finally, Hartford Financial Management Inc. lifted its position in PayPal by 18.8% during the fourth quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock valued at $63,000 after purchasing an additional 163 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

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.