PayPal (NASDAQ:PYPL) Price Target Raised to $82.00

PayPal (NASDAQ:PYPL) had its price target raised by JMP Securities from $70.00 to $82.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a market outperform rating on the credit services provider’s stock.

PYPL has been the topic of a number of other research reports. Sanford C. Bernstein lifted their target price on PayPal from $66.00 to $68.00 and gave the company a market perform rating in a research report on Thursday, April 18th. UBS Group boosted their price target on PayPal from $56.00 to $63.00 and gave the stock a neutral rating in a research report on Friday, March 1st. Morgan Stanley reissued an equal weight rating and set a $66.00 price target (down previously from $118.00) on shares of PayPal in a research report on Tuesday, January 9th. DZ Bank downgraded PayPal from a buy rating to a hold rating and set a $60.00 price target on the stock. in a research report on Friday, February 9th. Finally, Citigroup lowered their price target on PayPal from $76.00 to $73.00 and set a buy rating on the stock in a research report on Thursday, February 8th. Twenty-five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $72.73.

PayPal Price Performance

NASDAQ:PYPL 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 stock’s 50-day simple moving average is $63.69 and its 200 day simple moving average is $60.50. The company has a market cap of $68.73 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.22 and a beta of 1.41. PayPal has a 52-week low of $50.25 and a 52-week high of $76.54.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On PayPal

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of PayPal in the 4th quarter valued at $749,561,000. Nordea Investment Management AB lifted its stake in shares of 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 valued at $190,371,000 after acquiring an additional 2,616,774 shares during the last quarter. FMR LLC lifted its stake in shares of PayPal by 29.5% in the 3rd quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after acquiring an additional 1,575,930 shares during the last quarter. LSV Asset Management lifted its stake in shares of PayPal by 271.6% in 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 acquiring an additional 1,120,700 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted 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 acquiring an additional 958,130 shares during the last quarter. 68.32% of the stock is currently 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.