PayPal (NASDAQ:PYPL) Price Target Raised to $84.00 at Royal Bank of Canada

PayPal (NASDAQ:PYPL) had its price target boosted by Royal Bank of Canada from $74.00 to $84.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the credit services provider’s stock.

PYPL has been the topic of a number of other research reports. Argus cut PayPal from a buy rating to a hold rating in a report on Friday, February 9th. Stephens boosted their price objective on shares of PayPal from $70.00 to $75.00 and gave the company an equal weight rating in a report on Wednesday. StockNews.com raised shares of PayPal from a hold rating to a buy rating in a research note on Friday, April 5th. Citigroup reduced their price target on shares of PayPal from $76.00 to $73.00 and set a buy rating on the stock in a research report on Thursday, February 8th. Finally, Oppenheimer restated a market perform rating on shares of PayPal in a research report on Thursday, January 25th. Twenty-five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, PayPal presently has an average rating of Hold and an average price target of $72.73.

PayPal Trading Down 1.9 %

PYPL opened at $65.70 on Wednesday. The firm has a 50 day simple moving average of $63.56 and a 200 day simple moving average of $60.44. PayPal has a fifty-two week low of $50.25 and a fifty-two week high of $76.54. The company has a market cap of $68.73 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 1.22 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.29.

PayPal (NASDAQ:PYPL) last released its earnings results 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 return on equity of 21.58% and a net margin of 14.26%. The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period in the prior year, the firm posted $0.86 EPS. PayPal’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that PayPal will post 4.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction on 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 directly owns 23,430 shares in the company, valued at $1,420,795.20. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its stake in shares of PayPal by 5.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 217,041 shares of the credit services provider’s stock worth $12,688,000 after acquiring an additional 11,030 shares during the period. FinTrust Capital Advisors LLC lifted its holdings in PayPal by 51.8% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,283 shares of the credit services provider’s stock valued at $75,000 after purchasing an additional 438 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in PayPal by 5.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 478,411 shares of the credit services provider’s stock worth $27,968,000 after purchasing an additional 24,231 shares during the period. Simon Quick Advisors LLC increased its holdings in shares of PayPal by 15.5% in the third quarter. Simon Quick Advisors LLC now owns 4,183 shares of the credit services provider’s stock valued at $245,000 after purchasing an additional 562 shares during the last quarter. Finally, Arlington Trust Co LLC bought a new position in shares of PayPal in the third quarter valued at about $58,000. Institutional investors 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.