PayPal’s (PYPL) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of PayPal (NASDAQ:PYPL) in a research note issued to investors on Wednesday, MarketBeat.com reports. Canaccord Genuity Group currently has a $96.00 price target on the credit services provider’s stock.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. restated an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Bank of America decreased their target price on shares of PayPal from $103.00 to $93.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Citigroup reiterated an “outperform” rating on shares of PayPal in a research report on Wednesday, February 5th. Arete Research set a $81.00 price target on PayPal in a research report on Thursday, March 27th. Finally, Barclays dropped their price objective on PayPal from $110.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.77.

PayPal Stock Up 2.8 %

PayPal stock opened at $67.24 on Wednesday. The company’s 50-day moving average price is $65.75 and its two-hundred day moving average price is $78.11. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $65.72 billion, a P/E ratio of 16.77, a P/E/G ratio of 1.27 and a beta of 1.60. PayPal has a twelve month low of $55.85 and a twelve month high of $93.66.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.17. The company had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 earnings per share. As a group, analysts expect that PayPal will post 5.03 EPS for the current year.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PayPal

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Graypoint LLC raised its position in PayPal by 24.2% in the first quarter. Graypoint LLC now owns 6,683 shares of the credit services provider’s stock worth $436,000 after acquiring an additional 1,303 shares during the period. Litman Gregory Wealth Management LLC grew its holdings in PayPal by 5.0% during the first quarter. Litman Gregory Wealth Management LLC now owns 188,440 shares of the credit services provider’s stock valued at $12,296,000 after purchasing an additional 8,919 shares during the period. Verdence Capital Advisors LLC grew its holdings in PayPal by 89.5% during the first quarter. Verdence Capital Advisors LLC now owns 18,547 shares of the credit services provider’s stock valued at $1,210,000 after purchasing an additional 8,761 shares during the period. Allen Capital Group LLC increased its position in PayPal by 16.7% in the first quarter. Allen Capital Group LLC now owns 35,279 shares of the credit services provider’s stock worth $2,302,000 after buying an additional 5,049 shares during the last quarter. Finally, LMG Wealth Partners LLC bought a new stake in shares of PayPal in the first quarter valued at $1,296,000. 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.