PayPal (NASDAQ:PYPL) Given New $70.00 Price Target at TD Cowen

PayPal (NASDAQ:PYPL) had its price target raised by TD Cowen from $68.00 to $70.00 in a report issued on Wednesday, Benzinga reports. They currently have a hold rating on the credit services provider’s stock.

PYPL has been the subject of several other reports. Monness Crespi & Hardt upped their target price on PayPal from $80.00 to $88.00 and gave the stock a buy rating in a research note on Monday. Sanford C. Bernstein raised PayPal from a market perform rating to an outperform rating and upped their target price for the stock from $71.00 to $78.00 in a research note on Wednesday. Robert W. Baird upped their target price on PayPal from $77.00 to $80.00 and gave the stock an outperform rating in a research note on Wednesday. Jefferies Financial Group reduced their price objective on PayPal from $70.00 to $65.00 in a research note on Monday. Finally, New Street Research assumed coverage on PayPal in a research note on Friday, May 31st. They issued a buy rating and a $80.00 price objective for the company. Nineteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $75.03.

PayPal Trading Up 2.8 %

Shares of NASDAQ:PYPL opened at $65.78 on Wednesday. PayPal has a 12-month low of $50.25 and a 12-month high of $76.54. The company has a market capitalization of $68.81 billion, a PE ratio of 16.57, a PEG ratio of 1.04 and a beta of 1.42. The business has a 50 day moving average of $60.93 and a two-hundred day moving average of $62.19. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 EPS. As a group, analysts forecast that PayPal will post 4.17 EPS for the current year.

Insider Buying and Selling

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the sale, the director now owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PayPal

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pittenger & Anderson Inc. grew its stake in 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 buying an additional 172 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of PayPal in the 4th quarter valued at approximately $25,000. American National Bank purchased a new position in shares of PayPal in the 1st quarter valued at approximately $27,000. Register Financial Advisors LLC purchased a new position in shares of PayPal in the 1st quarter valued at approximately $30,000. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in shares of PayPal by 65.8% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Company Profile

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.