PayPal (NASDAQ:PYPL) Stock Rating Upgraded by Piper Sandler

PayPal (NASDAQ:PYPL) was upgraded by Piper Sandler to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm presently has a $74.00 target price on the credit services provider’s stock. Piper Sandler’s target price suggests a potential upside of 0.57% from the company’s previous close.

PYPL has been the topic of a number of other research reports. Monness Crespi & Hardt reduced their target price on PayPal from $120.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Compass Point started coverage on shares of PayPal in a research report on Wednesday, April 23rd. They set a “sell” rating and a $56.00 price target for the company. Canaccord Genuity Group restated a “buy” rating and issued a $96.00 price objective on shares of PayPal in a report on Wednesday, April 30th. Arete Research set a $81.00 target price on shares of PayPal in a report on Thursday, March 27th. Finally, Macquarie decreased their price target on PayPal from $117.00 to $95.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.42.

PayPal Price Performance

NASDAQ:PYPL opened at $73.58 on Tuesday. The firm has a market cap of $71.56 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 1.19 and a beta of 1.45. The stock has a 50 day moving average of $69.40 and a two-hundred day moving average of $74.93. PayPal has a 12 month low of $55.85 and a 12 month high of $93.66. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.17. The firm had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 earnings per share. On average, analysts expect that PayPal will post 5.03 earnings per share for the current fiscal year.

Insider Buying and Selling at PayPal

In related news, Director Deborah M. Messemer sold 3,795 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.00, for a total value of $277,035.00. Following the transaction, the director now owns 13,976 shares in the company, valued at $1,020,248. The trade was a 21.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the completion of the transaction, the insider now owns 48,483 shares in the company, valued at $3,550,894.92. This trade represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is owned by insiders.

Institutional Trading of PayPal

Hedge funds have recently made changes to their positions in the company. Swedbank AB boosted its position in shares of PayPal by 28.4% during the 1st quarter. Swedbank AB now owns 912,270 shares of the credit services provider’s stock worth $59,526,000 after purchasing an additional 201,990 shares in the last quarter. Cim LLC lifted its position in shares of PayPal by 0.3% during the 1st quarter. Cim LLC now owns 99,062 shares of the credit services provider’s stock valued at $6,464,000 after acquiring an additional 253 shares during the period. Modern Wealth Management LLC boosted its stake in shares of PayPal by 61.1% during the 1st quarter. Modern Wealth Management LLC now owns 5,091 shares of the credit services provider’s stock worth $332,000 after acquiring an additional 1,930 shares in the last quarter. Anderson Financial Strategies LLC acquired a new stake in shares of PayPal in the 1st quarter worth approximately $76,000. Finally, Strs Ohio acquired a new position in PayPal during the first quarter worth $21,140,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.