UBS Group Raises PayPal (NASDAQ:PYPL) Price Target to $71.00

PayPal (NASDAQ:PYPL) had its price objective hoisted by equities researchers at UBS Group from $63.00 to $71.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the credit services provider’s stock. UBS Group’s target price would suggest a potential upside of 7.67% from the company’s previous close.

A number of other equities analysts have also recently issued reports on PYPL. BMO Capital Markets lowered their target price on PayPal from $65.00 to $60.00 and set a “market perform” rating for the company in a report on Thursday, February 8th. DZ Bank downgraded shares of PayPal from a “buy” rating to a “hold” rating and set a $60.00 target price for the company. in a research note on Friday, February 9th. Citigroup cut their target price on shares of PayPal from $76.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Daiwa Capital Markets downgraded shares of PayPal from an “outperform” rating to a “neutral” rating and cut their target price for the company from $64.00 to $62.00 in a research note on Tuesday, February 13th. Finally, Stephens raised their target price on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday. Twenty-four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, PayPal presently has an average rating of “Hold” and a consensus price target of $72.06.

PayPal Trading Down 2.9 %

Shares of PYPL traded down $1.98 during trading hours on Wednesday, reaching $65.94. The stock had a trading volume of 8,771,995 shares, compared to its average volume of 16,491,178. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46. PayPal has a 52 week low of $50.25 and a 52 week high of $76.54. The firm has a 50-day moving average of $63.21 and a 200 day moving average of $60.35. The company has a market cap of $69.41 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.25 and a beta of 1.45.

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

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On PayPal

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in PayPal in the 4th quarter valued at about $25,000. Sutton Wealth Advisors Inc. increased its stake in shares of PayPal by 115.0% during the 3rd quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 237 shares during the last quarter. American National Bank purchased a new stake in shares of PayPal during the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC purchased a new stake in shares of PayPal during the 4th quarter worth approximately $29,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of PayPal during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.