PayPal’s (PYPL) “Outperform” Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada reissued their outperform rating on shares of PayPal (NASDAQ:PYPL) in a research note released on Thursday morning,Benzinga reports. They currently have a $88.00 target price on the credit services provider’s stock.

A number of other research analysts have also recently commented on the stock. Monness Crespi & Hardt decreased their target price on shares of PayPal from $120.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday, April 30th. Bank of America decreased their price objective on shares of PayPal from $103.00 to $93.00 and set a “buy” rating on the stock in a report on Monday, April 14th. UBS Group lowered their price objective on shares of PayPal from $88.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $96.00 target price on shares of PayPal in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.42.

PayPal Price Performance

Shares of PYPL stock opened at $73.17 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $71.16 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.21 and a beta of 1.45. The firm’s 50-day moving average is $69.90 and its two-hundred day moving average is $74.80. PayPal has a 12 month low of $55.85 and a 12 month high of $93.66.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.16 by $0.17. The firm had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 EPS. Analysts predict that PayPal will post 5.03 earnings per share for the current year.

Insider Transactions at PayPal

In other news, insider Suzan Kereere sold 4,162 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 48,483 shares of the company’s stock, valued at approximately $3,550,894.92. This represents a 7.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Diego Scotti sold 3,839 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $281,168.36. Following the transaction, the executive vice president now directly owns 16,989 shares in the company, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,796 shares of company stock worth $863,028. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of PayPal

Several institutional investors and hedge funds have recently added to or reduced their stakes in PYPL. AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of PayPal in the first quarter valued at approximately $2,554,000. Swedbank AB grew its position in PayPal by 28.4% in the 1st quarter. Swedbank AB now owns 912,270 shares of the credit services provider’s stock valued at $59,526,000 after buying an additional 201,990 shares during the last quarter. Cim LLC grew its position in PayPal by 0.3% in the 1st quarter. Cim LLC now owns 99,062 shares of the credit services provider’s stock valued at $6,464,000 after buying an additional 253 shares during the last quarter. Modern Wealth Management LLC increased its stake in PayPal by 61.1% in the 1st quarter. Modern Wealth Management LLC now owns 5,091 shares of the credit services provider’s stock valued at $332,000 after buying an additional 1,930 shares during the period. Finally, Anderson Financial Strategies LLC purchased a new position in PayPal during the 1st quarter worth $76,000. 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.