PayPal (NASDAQ:PYPL) PT Raised to $77.00 at Robert W. Baird

PayPal (NASDAQ:PYPL) had its price target hoisted by Robert W. Baird from $70.00 to $77.00 in a report published on Wednesday, Benzinga reports. They currently have an outperform rating on the credit services provider’s stock.

A number of other research analysts have also recently commented on the company. BMO Capital Markets dropped their price target on PayPal from $65.00 to $60.00 and set a market perform rating for the company in a research note on Thursday, February 8th. UBS Group lifted their price target on PayPal from $56.00 to $63.00 and gave the company a neutral rating in a research note on Friday, March 1st. Morgan Stanley reaffirmed an equal weight rating and issued a $66.00 price objective (down previously from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. Evercore ISI raised their price objective on shares of PayPal from $56.00 to $60.00 and gave the company an in-line rating in a report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of PayPal from $75.00 to $70.00 and set an overweight rating on the stock in a report on Thursday, February 8th. 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, the company presently has an average rating of Hold and an average price target of $72.73.

PayPal Stock Performance

NASDAQ:PYPL opened at $65.70 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 stock’s 50-day simple moving average is $63.69 and its 200 day simple moving average is $60.50. The firm has a market capitalization of $68.73 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 1.22 and a beta of 1.41.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results 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). 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%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 earnings per share. On average, analysts anticipate that PayPal will post 4.07 EPS for the current fiscal year.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction that occurred 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 transaction, 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 through the SEC website. 0.14% of the stock is owned by insiders.

Hedge Funds Weigh In On PayPal

Institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System acquired a new position in shares of PayPal during the fourth quarter worth approximately $9,267,000. Bartlett & Co. LLC raised its position in PayPal by 8.5% in the 4th quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock valued at $594,000 after buying an additional 740 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in PayPal by 9.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock valued at $53,344,000 after buying an additional 73,687 shares during the last quarter. Sunbelt Securities Inc. raised its position in PayPal by 4.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock valued at $1,183,000 after buying an additional 942 shares during the last quarter. Finally, Bellecapital International Ltd. raised its position in PayPal by 2.0% in the 4th quarter. Bellecapital International Ltd. now owns 21,685 shares of the credit services provider’s stock valued at $1,332,000 after buying an additional 433 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

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.