PayPal (NASDAQ:PYPL) PT Raised to $68.00

PayPal (NASDAQ:PYPL) had its price target boosted by equities researchers at Mizuho from $60.00 to $68.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the credit services provider’s stock. Mizuho’s target price indicates a potential upside of 2.35% from the company’s previous close.

A number of other equities analysts also recently weighed in on PYPL. Canaccord Genuity Group lowered their price target on PayPal from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research note on Tuesday. Wells Fargo & Company increased their price target on PayPal from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. William Blair reaffirmed an “outperform” rating on shares of PayPal in a research note on Thursday, February 8th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $66.00 price target (down from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. Twenty-four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $71.67.

PayPal Price Performance

Shares of PYPL stock traded down $1.48 during mid-day trading on Wednesday, reaching $66.44. The company’s stock had a trading volume of 5,436,529 shares, compared to its average volume of 16,438,652. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. The firm’s 50-day moving average is $63.21 and its two-hundred day moving average is $60.35. The company has a market cap of $69.94 billion, a P/E ratio of 17.15, a PEG ratio of 1.25 and a beta of 1.45. PayPal has a 1-year low of $50.25 and a 1-year high of $76.54.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.14). The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. On average, research analysts predict that PayPal will post 4.02 earnings per share for the current year.

Insider Activity at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the transaction, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PYPL. Norges Bank purchased a new stake in shares of PayPal in the fourth quarter valued at about $749,561,000. Nordea Investment Management AB grew its holdings in PayPal by 420.6% in the 3rd quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock valued at $190,371,000 after buying an additional 2,616,774 shares during the period. FMR LLC increased its stake in shares of PayPal by 29.5% during the 3rd quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after acquiring an additional 1,575,930 shares during the last quarter. LSV Asset Management lifted its holdings in shares of PayPal by 271.6% during the 3rd quarter. LSV Asset Management now owns 1,533,300 shares of the credit services provider’s stock worth $89,637,000 after acquiring an additional 1,120,700 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in PayPal by 125.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after purchasing an additional 958,130 shares during the period. 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.