PayPal (NASDAQ:PYPL) Price Target Raised to $70.00 at JMP Securities

PayPal (NASDAQ:PYPL) had its price target raised by investment analysts at JMP Securities from $68.00 to $70.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “market outperform” rating on the credit services provider’s stock. JMP Securities’ price objective points to a potential upside of 12.72% from the company’s previous close.

Several other brokerages have also commented on PYPL. William Blair restated an “outperform” rating on shares of PayPal in a report on Thursday, February 8th. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. BMO Capital Markets decreased their target price on shares of PayPal from $65.00 to $60.00 and set a “market perform” rating for the company in a research note on Thursday, February 8th. Argus downgraded shares of PayPal from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, DZ Bank downgraded shares of PayPal from a “buy” rating to a “hold” rating and set a $60.00 price target for the company. in a research report on Friday, February 9th. Twenty-three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, PayPal has a consensus rating of “Hold” and a consensus price target of $70.47.

PayPal Stock Performance

NASDAQ PYPL opened at $62.10 on Wednesday. The company has a 50-day simple moving average of $62.27 and a two-hundred day simple moving average of $59.90. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46. PayPal has a 12-month low of $50.25 and a 12-month high of $76.54. The firm has a market cap of $65.37 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.44 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last posted its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. The company had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. PayPal’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. On average, equities analysts forecast that PayPal will post 3.93 EPS for the current year.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of PayPal 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 owns 23,430 shares in the company, valued at approximately $1,420,795.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Louisiana State Employees Retirement System purchased a new position in shares of PayPal during the 4th quarter valued at $9,267,000. Bartlett & Co. LLC lifted its stake in shares of PayPal by 8.5% during the 4th quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock valued at $594,000 after buying an additional 740 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of PayPal by 9.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock valued at $53,344,000 after buying an additional 73,687 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in shares of PayPal by 4.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock valued at $1,183,000 after buying an additional 942 shares in the last quarter. Finally, Bellecapital International Ltd. lifted its stake in shares of PayPal by 2.0% during the 4th quarter. Bellecapital International Ltd. now owns 21,685 shares of the credit services provider’s stock valued at $1,332,000 after buying an additional 433 shares in the last quarter. Hedge funds and other institutional investors 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.