PayPal (NASDAQ:PYPL) Price Target Raised to $65.00

PayPal (NASDAQ:PYPL) had its price objective increased by Wells Fargo & Company from $60.00 to $65.00 in a report released on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the credit services provider’s stock.

Several other research analysts have also recently commented on PYPL. Monness Crespi & Hardt boosted their target price on PayPal from $80.00 to $88.00 and gave the stock a buy rating in a research note on Monday. Citigroup lowered their target price on PayPal from $76.00 to $73.00 and set a buy rating for the company in a research note on Thursday, February 8th. Canaccord Genuity Group lowered their target price on PayPal from $100.00 to $80.00 and set a buy rating for the company in a research note on Thursday, February 8th. Morgan Stanley reissued an equal weight rating and set a $66.00 target price (down from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. Finally, Royal Bank of Canada boosted their target price on PayPal from $74.00 to $84.00 and gave the stock an outperform rating in a research note on Wednesday. Twenty-five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $72.73.

PayPal Trading Down 2.6 %

Shares of NASDAQ PYPL opened at $66.14 on Wednesday. PayPal has a twelve month low of $50.25 and a twelve month high of $76.54. The company has a current ratio of 1.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $63.39 and a 200-day simple moving average of $60.39. The stock has a market capitalization of $69.62 billion, a PE ratio of 16.66, a PEG ratio of 1.26 and a beta of 1.41.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same period in the previous year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that PayPal will post 4.02 earnings per share for the current year.

Insider Buying and Selling at PayPal

In other PayPal news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by company insiders.

Institutional Trading of PayPal

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in PayPal during the 4th quarter valued at approximately $25,000. Sutton Wealth Advisors Inc. increased its position in PayPal by 115.0% during the 3rd quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 237 shares during the period. American National Bank acquired a new position in PayPal during the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC acquired a new position in PayPal during the 4th quarter worth approximately $29,000. Finally, Register Financial Advisors LLC acquired a new position in PayPal during the 1st quarter worth approximately $30,000. 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.