PayPal (NASDAQ:PYPL) Price Target Raised to $77.00

PayPal (NASDAQ:PYPL) had its price objective upped by Robert W. Baird from $70.00 to $77.00 in a report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the credit services provider’s stock.

PYPL has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their price target on PayPal from $75.00 to $70.00 and set an overweight rating for the company in a research note on Thursday, February 8th. UBS Group boosted their price target on PayPal from $56.00 to $63.00 and gave the company a neutral rating in a report on Friday, March 1st. Argus lowered PayPal from a buy rating to a hold rating in a research report on Friday, February 9th. Morgan Stanley reaffirmed an equal weight rating and issued a $66.00 price objective (down previously from $118.00) on shares of PayPal in a report on Tuesday, January 9th. Finally, BTIG Research reiterated a neutral rating on shares of PayPal in a research note on Friday, January 5th. Twenty-five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $72.73.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $65.70 on Wednesday. The business has a 50 day moving average price of $63.56 and a two-hundred day moving average price of $60.44. PayPal has a fifty-two week low of $50.25 and a fifty-two week high of $76.54. The firm has a market cap of $68.73 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 1.22 and a beta of 1.41. The company has a quick ratio of 1.29, a current ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter last year, the firm posted $0.86 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts expect that PayPal will post 4.07 earnings per share for the current fiscal year.

Insider Buying and Selling at PayPal

In other news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction 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 transaction, the senior vice president now owns 23,430 shares in the company, valued at $1,420,795.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hartford Financial Management Inc. increased its stake in shares of PayPal by 18.8% in the fourth quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock worth $63,000 after acquiring an additional 163 shares during the last quarter. Pine Haven Investment Counsel Inc increased its position in PayPal by 3.7% in the 4th quarter. Pine Haven Investment Counsel Inc now owns 4,705 shares of the credit services provider’s stock worth $289,000 after purchasing an additional 170 shares during the last quarter. Pittenger & Anderson Inc. raised its stake in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares in the last quarter. Brooks Moore & Associates Inc. lifted its holdings in shares of PayPal by 1.3% during the 3rd quarter. Brooks Moore & Associates Inc. now owns 14,391 shares of the credit services provider’s stock valued at $841,000 after buying an additional 180 shares during the last quarter. Finally, Waldron Private Wealth LLC grew its stake in shares of PayPal by 1.9% in the 4th quarter. Waldron Private Wealth LLC now owns 9,619 shares of the credit services provider’s stock valued at $590,000 after buying an additional 182 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.