PayPal (NASDAQ:PYPL) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

PayPal (NASDAQ:PYPL) had its price target boosted by analysts at Cantor Fitzgerald from $54.00 to $60.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the credit services provider’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 4.88% from the stock’s previous close.

A number of other equities research analysts have also recently commented on PYPL. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a report on Wednesday, July 15th. TD Cowen increased their price objective on PayPal from $48.00 to $59.00 and gave the company a “hold” rating in a report on Wednesday, July 29th. UBS Group set a $45.00 target price on PayPal in a research report on Wednesday. Wells Fargo & Company boosted their target price on PayPal from $48.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 29th. Finally, BNP Paribas Exane increased their price target on PayPal from $43.50 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Nine investment analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, PayPal currently has an average rating of “Hold” and an average target price of $55.67.

PayPal Stock Performance

NASDAQ PYPL opened at $57.21 on Monday. The business’s fifty day moving average is $47.03 and its 200-day moving average is $47.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $48.94 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.42 and a beta of 1.33. PayPal has a one year low of $38.46 and a one year high of $79.21.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.10. The company had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.47 billion. PayPal had a net margin of 14.36% and a return on equity of 24.39%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.40 earnings per share. Equities research analysts predict that PayPal will post 5.35 EPS for the current year.

Insider Buying and Selling

In other PayPal news, CAO Chris Natali sold 1,337 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total value of $77,679.70. Following the completion of the transaction, the chief accounting officer directly owned 2,216 shares of the company’s stock, valued at $128,749.60. This trade represents a 37.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 3,379 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $42.79, for a total value of $144,587.41. Following the completion of the sale, the insider owned 30,983 shares in the company, valued at $1,325,762.57. This trade represents a 9.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 10,612 shares of company stock valued at $484,534. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of PayPal during the fourth quarter worth approximately $949,758,000. Bank of America Corp DE lifted its stake in shares of PayPal by 67.9% in the 1st quarter. Bank of America Corp DE now owns 25,614,720 shares of the credit services provider’s stock valued at $1,158,554,000 after acquiring an additional 10,356,256 shares during the last quarter. Amundi increased its stake in PayPal by 227.6% in the 1st quarter. Amundi now owns 13,804,208 shares of the credit services provider’s stock worth $624,364,000 after purchasing an additional 9,590,488 shares during the period. Vanguard Group Inc. boosted its stake in shares of PayPal by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 90,376,927 shares of the credit services provider’s stock valued at $5,276,205,000 after purchasing an additional 5,534,462 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of PayPal by 355.1% in the first quarter. SG Americas Securities LLC now owns 4,967,170 shares of the credit services provider’s stock worth $224,665,000 after buying an additional 3,875,688 shares during the period. Institutional investors own 68.32% of the company’s stock.

About PayPal

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.