PayPal (NASDAQ:PYPL) Price Target Raised to $75.00

PayPal (NASDAQ:PYPL) had its price target raised by Stephens from $70.00 to $75.00 in a research note released on Wednesday, Benzinga reports. They currently have an equal weight rating on the credit services provider’s stock.

Several other research analysts have also commented on PYPL. Needham & Company LLC reissued a hold rating on shares of PayPal in a research report on Tuesday, April 30th. Susquehanna upped their price target on PayPal from $61.00 to $65.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. Oppenheimer restated a market perform rating on shares of PayPal in a research note on Thursday, January 25th. JPMorgan Chase & Co. dropped their target price on PayPal from $75.00 to $70.00 and set an overweight rating on the stock in a research report on Thursday, February 8th. Finally, Wells Fargo & Company increased their price target on PayPal from $55.00 to $60.00 and gave the company an equal weight rating in a report on Monday, January 29th. Twenty-five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, PayPal currently has an average rating of Hold and an average target price of $72.73.

PayPal Stock Performance

Shares of PYPL stock opened at $65.70 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.29 and a current ratio of 1.28. The firm has a market capitalization of $68.73 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 1.22 and a beta of 1.41. PayPal has a one year low of $50.25 and a one year high of $76.54. The company has a 50 day moving average price of $63.69 and a 200 day moving average price of $60.50.

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

Insider Activity

In related 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 transaction, the senior vice president now owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The sale was disclosed in a document filed 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 hedge funds have recently bought and sold shares of PYPL. Norges Bank purchased a new position in PayPal during the fourth quarter valued at approximately $749,561,000. Nordea Investment Management AB increased its position in PayPal by 420.6% in the 3rd quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock worth $190,371,000 after purchasing an additional 2,616,774 shares during the last quarter. FMR LLC raised its stake in shares of PayPal by 29.5% during the 3rd quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock worth $404,367,000 after purchasing an additional 1,575,930 shares in the last quarter. LSV Asset Management lifted its holdings in shares of PayPal by 271.6% during the 3rd quarter. LSV Asset Management now owns 1,533,300 shares of the credit services provider’s stock valued at $89,637,000 after buying an additional 1,120,700 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of PayPal by 125.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after buying an additional 958,130 shares in the last quarter. 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.