PayPal (NASDAQ:PYPL) Price Target Raised to $88.00 at Monness Crespi & Hardt

PayPal (NASDAQ:PYPL) had its price target raised by Monness Crespi & Hardt from $80.00 to $88.00 in a report issued on Monday morning, Marketbeat.com reports. The firm currently has a buy rating on the credit services provider’s stock.

Other research analysts also recently issued reports about the company. Morgan Stanley reiterated an equal weight rating and set a $66.00 price objective (down from $118.00) on shares of PayPal in a report on Tuesday, January 9th. Evercore ISI increased their price objective on PayPal from $56.00 to $60.00 and gave the stock an in-line rating in a report on Tuesday, March 26th. Sanford C. Bernstein increased their price objective on PayPal from $66.00 to $68.00 and gave the stock a market perform rating in a report on Thursday, April 18th. UBS Group increased their price objective on PayPal from $56.00 to $63.00 and gave the stock a neutral rating in a report on Friday, March 1st. Finally, Susquehanna increased their price objective on PayPal from $61.00 to $65.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, PayPal has an average rating of Hold and a consensus price target of $70.72.

PayPal Stock Up 1.6 %

Shares of PayPal stock opened at $66.99 on Monday. PayPal has a 1 year low of $50.25 and a 1 year high of $76.54. The business has a 50-day moving average of $63.03 and a two-hundred day moving average of $60.27. The company has a market capitalization of $70.52 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.23 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.12. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The company had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities analysts predict that PayPal will post 4.02 EPS for the current year.

Insider Buying and Selling

In related news, SVP Frank Keller sold 7,686 shares of PayPal 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 legal filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently owned by insiders.

Institutional Trading of PayPal

Several hedge funds have recently added to or reduced their stakes in the company. Hartford Financial Management Inc. increased its stake in PayPal by 18.8% during the 4th quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock worth $63,000 after acquiring an additional 163 shares during the period. Pine Haven Investment Counsel Inc increased its stake in PayPal by 3.7% during the 4th quarter. Pine Haven Investment Counsel Inc now owns 4,705 shares of the credit services provider’s stock worth $289,000 after acquiring an additional 170 shares during the period. Brooks Moore & Associates Inc. increased its stake in PayPal by 1.3% during the 3rd quarter. Brooks Moore & Associates Inc. now owns 14,391 shares of the credit services provider’s stock worth $841,000 after acquiring an additional 180 shares during the period. Waldron Private Wealth LLC increased its stake in PayPal by 1.9% during the 4th quarter. Waldron Private Wealth LLC now owns 9,619 shares of the credit services provider’s stock worth $590,000 after acquiring an additional 182 shares during the period. Finally, Indiana Trust & Investment Management CO increased its stake in PayPal by 18.6% during the 1st quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock worth $79,000 after acquiring an additional 184 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

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.