TD Cowen Boosts PayPal (NASDAQ:PYPL) Price Target to $68.00

PayPal (NASDAQ:PYPL) had its target price boosted by TD Cowen from $58.00 to $68.00 in a report released on Wednesday, Benzinga reports. TD Cowen currently has a hold rating on the credit services provider’s stock.

Several other equities analysts have also recently commented on PYPL. Sanford C. Bernstein raised their price target on shares of PayPal from $66.00 to $68.00 and gave the company a market perform rating in a research report on Thursday, April 18th. Argus cut shares of PayPal from a buy rating to a hold rating in a research report on Friday, February 9th. BTIG Research reissued a neutral rating on shares of PayPal in a research report on Friday, January 5th. Needham & Company LLC reissued a hold rating on shares of PayPal in a research report on Tuesday. Finally, Morgan Stanley reissued an equal weight rating and issued a $66.00 price target (down previously from $118.00) on shares of PayPal in a research report on Tuesday, January 9th. Twenty-five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $72.73.

PayPal Stock Performance

NASDAQ:PYPL opened at $66.14 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.29 and a current ratio of 1.28. The stock has a market capitalization of $69.62 billion, a P/E ratio of 16.66, a PEG ratio of 1.26 and a beta of 1.41. The company has a 50 day moving average price of $63.39 and a 200 day moving average price of $60.39. PayPal has a fifty-two week low of $50.25 and a fifty-two week high of $76.54.

PayPal (NASDAQ:PYPL) last posted 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). The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. Equities research analysts forecast that PayPal will post 4.02 EPS for the current year.

Insider Buying and Selling at PayPal

In other PayPal 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 value of $466,079.04. Following the transaction, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System acquired a new position in PayPal in the fourth quarter valued at $9,267,000. Bartlett & Co. LLC boosted its holdings in shares of PayPal by 8.5% in the fourth quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock valued at $594,000 after acquiring an additional 740 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of PayPal by 9.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock valued at $53,344,000 after acquiring an additional 73,687 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of PayPal by 4.9% in the third quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock valued at $1,183,000 after acquiring an additional 942 shares in the last quarter. Finally, Bellecapital International Ltd. boosted its holdings in shares of PayPal by 2.0% in the fourth quarter. Bellecapital International Ltd. now owns 21,685 shares of the credit services provider’s stock valued at $1,332,000 after acquiring an additional 433 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.