PayPal (NASDAQ:PYPL) Price Target Raised to $55.00 at Canaccord Genuity Group

PayPal (NASDAQ:PYPL) had its price target upped by Canaccord Genuity Group from $42.00 to $55.00 in a report released on Thursday morning, Marketbeat.com reports. The brokerage currently has a hold rating on the credit services provider’s stock.

Other research analysts also recently issued research reports about the company. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Tuesday, May 5th. Loop Capital began coverage on PayPal in a research note on Tuesday, March 31st. They issued a “hold” rating and a $46.00 price objective for the company. Bank of America decreased their price objective on PayPal from $55.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Cantor Fitzgerald lifted their target price on PayPal from $42.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of PayPal in a report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, thirty-three have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $54.61.

PayPal Stock Performance

PayPal stock opened at $56.73 on Thursday. The firm’s 50 day simple moving average is $44.37 and its 200-day simple moving average is $47.16. The company has a market cap of $50.04 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 1.26. PayPal has a fifty-two week low of $38.46 and a fifty-two week high of $79.50.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. PayPal had a net margin of 15.00% and a return on equity of 25.02%. The business had revenue of $8.35 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the business earned $1.33 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts predict that PayPal will post 5.32 EPS for the current year.

PayPal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. PayPal’s dividend payout ratio is 10.51%.

Insider Buying and Selling

In related news, insider Suzan Kereere sold 3,379 shares of PayPal stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $42.79, for a total transaction of $144,587.41. Following the completion of the sale, the insider owned 30,983 shares of the company’s stock, valued at approximately $1,325,762.57. This trade represents a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 4,612 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $42.54, for a total value of $196,194.48. Following the completion of the transaction, the insider owned 41,567 shares in the company, valued at $1,768,260.18. This trade represents a 9.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 20,612 shares of company stock worth $966,623. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On PayPal

Several institutional investors have recently made changes to their positions in PYPL. Bard Associates Inc. acquired a new stake in PayPal in the fourth quarter valued at approximately $25,000. Allied Private Wealth LLC acquired a new position in shares of PayPal during the 2nd quarter worth $25,000. Robinswood Financial LLC acquired a new position in shares of PayPal during the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of PayPal by 15,233.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 460 shares of the credit services provider’s stock valued at $27,000 after purchasing an additional 457 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of PayPal during the 4th quarter valued at $28,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about PayPal

Here are the key news stories impacting PayPal this week:

• Positive Sentiment: PayPal surged after reports that Stripe and Advent made a $53 billion acquisition offer at $60.50 per share, creating a takeover premium and boosting investor optimism. Reuters: Stripe, Advent offer to buy PayPal for more than $53 billion
• Positive Sentiment: Analysts and investors are arguing the bid undervalues PayPal, with some estimates pointing to a higher fair value around $70 a share or more, which keeps takeover speculation alive. Article: Cantor sees potential for higher PayPal offer as analysis suggests $70/share value
• Neutral Sentiment: Barclays raised its price target to $55 and Canaccord lifted its target to $55, signaling some improvement in outlook, though both targets remain below the recent trading level. Article: Paypal (PYPL) Gains As Market Dips: What You Should Know
• Neutral Sentiment: PayPal’s board is reportedly viewing the Stripe-Advent proposal as inadequate, suggesting negotiations could continue and the final outcome is still uncertain. Reuters: PayPal board sees Stripe-Advent offer as inadequate, sources say
• Negative Sentiment: Regulatory and financing hurdles could complicate or delay any deal, which may temper some of the takeover enthusiasm if no quick resolution emerges. Reuters: PayPal board sees Stripe-Advent offer as inadequate, sources say

PayPal Company Profile

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.

Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.