PayPal (NASDAQ:PYPL) Price Target Raised to $134.00

PayPal (NASDAQ:PYPLGet Rating) had its price target upped by Morgan Stanley from $129.00 to $134.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the credit services provider’s stock.

A number of other research analysts also recently commented on PYPL. Keefe, Bruyette & Woods dropped their price objective on shares of PayPal from $108.00 to $98.00 in a research note on Monday, July 11th. Piper Sandler dropped their price objective on shares of PayPal from $140.00 to $93.00 and set an overweight rating for the company in a research note on Wednesday, July 6th. BMO Capital Markets upped their price objective on shares of PayPal from $114.00 to $124.00 and gave the company an outperform rating in a research note on Thursday. Cowen dropped their target price on shares of PayPal from $174.00 to $104.00 in a research report on Thursday, April 28th. Finally, William Blair reissued an outperform rating on shares of PayPal in a research report on Wednesday, April 27th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $139.43.

PayPal Trading Down 1.7 %

NASDAQ PYPL opened at $95.32 on Wednesday. PayPal has a 12 month low of $67.58 and a 12 month high of $296.70. The company has a 50-day moving average of $79.13 and a 200-day moving average of $98.21. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market cap of $110.38 billion, a P/E ratio of 54.78, a P/E/G ratio of 2.23 and a beta of 1.49.

Insider Activity

In related news, EVP Peggy Alford sold 21,791 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $97.82, for a total transaction of $2,131,595.62. Following the transaction, the executive vice president now directly owns 18,100 shares in the company, valued at $1,770,542. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On PayPal

Large investors have recently added to or reduced their stakes in the company. Truist Financial Corp lifted its stake in PayPal by 83.0% during the first quarter. Truist Financial Corp now owns 743,041 shares of the credit services provider’s stock worth $85,932,000 after purchasing an additional 337,048 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in PayPal by 235.5% during the first quarter. Creative Financial Designs Inc. ADV now owns 1,617 shares of the credit services provider’s stock worth $187,000 after purchasing an additional 1,135 shares during the last quarter. McGuire Investment Group LLC lifted its stake in PayPal by 13.4% during the first quarter. McGuire Investment Group LLC now owns 3,892 shares of the credit services provider’s stock worth $450,000 after purchasing an additional 460 shares during the last quarter. HBW Advisory Services LLC increased its position in PayPal by 116.8% in the first quarter. HBW Advisory Services LLC now owns 2,888 shares of the credit services provider’s stock worth $334,000 after buying an additional 1,556 shares during the period. Finally, Verdence Capital Advisors LLC increased its position in PayPal by 28.5% in the first quarter. Verdence Capital Advisors LLC now owns 4,197 shares of the credit services provider’s stock worth $485,000 after buying an additional 932 shares during the period. 75.90% of the stock is currently owned by institutional investors.

About PayPal

(Get Rating)

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.

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