PayPal (NASDAQ:PYPL) PT Raised to $65.00 at Wells Fargo & Company

PayPal (NASDAQ:PYPL) had its price target increased by stock analysts at Wells Fargo & Company from $60.00 to $65.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the credit services provider’s stock. Wells Fargo & Company‘s target price points to a potential downside of 2.96% from the stock’s current price.

Other analysts have also issued research reports about the company. Morgan Stanley reissued an “equal weight” rating and issued a $66.00 target price (down previously from $118.00) on shares of PayPal in a report on Tuesday, January 9th. BTIG Research reissued a “neutral” rating on shares of PayPal in a report on Friday, January 5th. Robert W. Baird lifted their target price on PayPal from $70.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Tuesday. Finally, StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Twenty-five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $72.73.

PayPal Stock Up 1.3 %

PYPL stock opened at $66.98 on Wednesday. PayPal has a twelve month low of $50.25 and a twelve month 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 firm has a market cap of $70.51 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.26 and a beta of 1.41. The business has a 50 day moving average of $63.56 and a 200 day moving average of $60.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share 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 for the quarter, compared to the consensus estimate of $7.52 billion. During the same period last year, the business earned $0.86 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts forecast that PayPal will post 4.02 EPS for the current fiscal year.

Insider Transactions at PayPal

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

Institutional Investors Weigh In On PayPal

Several large investors have recently made changes to their positions in PYPL. Pittenger & Anderson Inc. increased its stake in 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 during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in PayPal during the fourth quarter worth approximately $25,000. American National Bank bought a new stake in PayPal during the first quarter worth approximately $27,000. Sutton Wealth Advisors Inc. increased its stake in PayPal by 115.0% during the third quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 237 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new stake in PayPal during the first quarter worth approximately $30,000. 68.32% of the stock is 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.