PayPal (NASDAQ:PYPL) Stock Price Expected to Rise, Morgan Stanley Analyst Says

PayPal (NASDAQ:PYPL) had its price target upped by stock analysts at Morgan Stanley from $74.00 to $75.00 in a report released on Wednesday, MarketBeat reports. The firm presently has an “equal weight” rating on the credit services provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 11.76% from the stock’s current price.

Several other brokerages also recently issued reports on PYPL. Piper Sandler set a $74.00 price target on PayPal in a research report on Tuesday. Bank of America reduced their price objective on PayPal from $103.00 to $93.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Wells Fargo & Company lowered their price objective on shares of PayPal from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $88.00 price target on shares of PayPal in a report on Thursday, June 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.57.

PayPal Stock Down 2.4%

Shares of PayPal stock traded down $1.65 on Wednesday, hitting $67.11. 15,163,964 shares of the company traded hands, compared to its average volume of 11,875,645. PayPal has a 12-month low of $55.85 and a 12-month high of $93.66. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.56. The company has a market cap of $64.12 billion, a PE ratio of 14.34, a PEG ratio of 1.06 and a beta of 1.42. The company has a 50-day moving average price of $73.20 and a 200 day moving average price of $72.55.

PayPal (NASDAQ:PYPL) last issued 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 return on equity of 25.35% and a net margin of 14.49%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.08 billion. During the same period in the prior year, the firm posted $1.19 EPS. Sell-side analysts predict that PayPal will post 5.03 earnings per share for the current year.

Insider Transactions at PayPal

In other PayPal news, insider Suzan Kereere sold 4,162 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $304,824.88. Following the sale, the insider directly owned 48,483 shares of the company’s stock, valued at $3,550,894.92. The trade was a 7.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Chris Natali sold 7,102 shares of PayPal stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $69.35, for a total value of $492,523.70. The disclosure for this sale can be found here. Insiders have sold a total of 22,736 shares of company stock valued at $1,620,835 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently bought and sold shares of the company. Mpwm Advisory Solutions LLC acquired a new position in shares of PayPal in the fourth quarter valued at $25,000. Hurley Capital LLC bought a new position in PayPal in the 4th quarter valued at about $27,000. Evermay Wealth Management LLC lifted its position in PayPal by 726.0% during the first quarter. Evermay Wealth Management LLC now owns 413 shares of the credit services provider’s stock worth $27,000 after acquiring an additional 363 shares during the last quarter. Hilltop National Bank bought a new position in shares of PayPal during the second quarter worth approximately $27,000. Finally, Garde Capital Inc. acquired a new stake in PayPal during the 1st quarter worth approximately $28,000. 68.32% of the stock is currently 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.