Paypal (NASDAQ:PYPL) Price Target Increased to $129.00 by Analysts at Morgan Stanley

Paypal (NASDAQ:PYPL) had its price target lifted by Morgan Stanley from $114.00 to $129.00 in a research note issued to investors on Wednesday, The Fly reports. They currently have an overweight rating on the credit services provider’s stock.

A number of other equities research analysts have also recently issued reports on the stock. KeyCorp boosted their target price on shares of Zynga from $5.00 to $6.00 and gave the company an overweight rating in a research report on Monday, April 29th. Zacks Investment Research cut shares of GasLog Partners LP Unit from a hold rating to a strong sell rating in a research report on Tuesday, April 2nd. BTIG Research upped their price objective on shares of Paypal from $114.00 to $130.00 and gave the stock a buy rating in a research report on Monday, May 6th. They noted that the move was a valuation call. Craig Hallum reaffirmed a buy rating and set a $125.00 price objective (up previously from $103.00) on shares of Lithia Motors in a research report on Thursday, April 25th. Finally, SunTrust Banks reaffirmed a hold rating and set a $44.00 price objective on shares of Shutterstock in a research report on Thursday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $111.18.

Shares of Paypal stock opened at $120.12 on Wednesday. The company has a 50-day simple moving average of $114.43. The company has a market capitalization of $141.13 billion, a PE ratio of 67.11, a PEG ratio of 2.98 and a beta of 0.98. Paypal has a 52-week low of $74.66 and a 52-week high of $121.00.



Paypal (NASDAQ:PYPL) last announced its earnings results on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.11. The company had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Paypal had a net margin of 13.92% and a return on equity of 15.50%. Paypal’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 earnings per share. As a group, analysts expect that Paypal will post 2.26 EPS for the current fiscal year.

In other Paypal news, COO William J. Ready sold 46,038 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $108.77, for a total transaction of $5,007,553.26. Following the completion of the transaction, the chief operating officer now owns 88,098 shares of the company’s stock, valued at $9,582,419.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO John D. Rainey sold 13,925 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $108.73, for a total value of $1,514,065.25. Following the transaction, the chief financial officer now directly owns 121,770 shares of the company’s stock, valued at approximately $13,240,052.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,714 shares of company stock valued at $19,911,348. Insiders own 0.15% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of PYPL. FMR LLC increased its stake in shares of Paypal by 3.8% in the first quarter. FMR LLC now owns 82,843,184 shares of the credit services provider’s stock valued at $8,602,436,000 after buying an additional 3,002,568 shares during the period. Fundsmith LLP increased its stake in shares of Paypal by 0.9% in the first quarter. Fundsmith LLP now owns 15,338,423 shares of the credit services provider’s stock valued at $1,592,742,000 after buying an additional 136,213 shares during the period. Geode Capital Management LLC increased its stake in shares of Paypal by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 14,422,120 shares of the credit services provider’s stock valued at $1,210,539,000 after buying an additional 851,398 shares during the period. Northern Trust Corp increased its stake in shares of Paypal by 2.6% in the fourth quarter. Northern Trust Corp now owns 13,371,403 shares of the credit services provider’s stock valued at $1,124,402,000 after buying an additional 338,772 shares during the period. Finally, Norges Bank acquired a new position in shares of Paypal in the fourth quarter valued at approximately $906,735,000. 80.87% of the stock is owned by hedge funds and other institutional investors.

Paypal Company Profile

PayPal Holdings, Inc operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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