Macquarie Reiterates “Outperform” Rating for PayPal (NASDAQ:PYPL)

PayPal (NASDAQ:PYPL)‘s stock had its “outperform” rating restated by Macquarie in a note issued to investors on Wednesday,Benzinga reports. They currently have a $95.00 price objective on the credit services provider’s stock. Macquarie’s price objective points to a potential upside of 38.16% from the company’s current price.

Several other analysts also recently weighed in on PYPL. Wall Street Zen upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. Wells Fargo & Company lowered their price target on PayPal from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Wednesday, April 30th. Morgan Stanley increased their target price on PayPal from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Citigroup reaffirmed a “buy” rating on shares of PayPal in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PayPal currently has an average rating of “Moderate Buy” and an average target price of $84.57.

PayPal Stock Performance

NASDAQ PYPL opened at $68.76 on Wednesday. The stock has a fifty day simple moving average of $73.20 and a 200-day simple moving average of $72.55. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a market cap of $65.69 billion, a PE ratio of 14.69, a P/E/G ratio of 1.11 and a beta of 1.45. 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, July 29th. The credit services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.10. PayPal had a net margin of 14.49% and a return on equity of 25.35%. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.08 billion. During the same quarter last year, the firm posted $1.19 earnings per share. Equities analysts anticipate that PayPal will post 5.03 earnings per share for the current year.

Insider Activity at PayPal

In related news, EVP Diego Scotti sold 3,839 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $281,168.36. Following the completion of the sale, the executive vice president directly owned 16,989 shares of the company’s stock, valued at $1,244,274.36. The trade was a 18.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Deborah M. Messemer sold 3,795 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the transaction, the director owned 13,976 shares of the company’s stock, valued at $1,020,248. This represents a 21.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,796 shares of company stock valued at $863,028 in the last ninety days. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PYPL. Brighton Jones LLC raised its position in PayPal by 15.2% in the 4th quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider’s stock valued at $596,000 after purchasing an additional 924 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in PayPal in the fourth quarter valued at $248,000. Orion Portfolio Solutions LLC raised its holdings in shares of PayPal by 20.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 28,353 shares of the credit services provider’s stock valued at $2,420,000 after buying an additional 4,787 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of PayPal by 6.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 34,181 shares of the credit services provider’s stock worth $3,006,000 after buying an additional 1,944 shares during the period. Finally, Summit Financial LLC boosted its stake in shares of PayPal by 16.5% during the fourth quarter. Summit Financial LLC now owns 10,532 shares of the credit services provider’s stock worth $899,000 after buying an additional 1,494 shares during the period. Hedge funds and other institutional investors 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.