UBS Group Raises PayPal (NASDAQ:PYPL) Price Target to $71.00

PayPal (NASDAQ:PYPL) had its price objective increased by UBS Group from $63.00 to $71.00 in a research report sent to investors on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the credit services provider’s stock.

A number of other brokerages also recently issued reports on PYPL. Susquehanna lifted their price target on PayPal from $61.00 to $65.00 and gave the company a neutral rating in a research report on Wednesday, January 24th. Stephens lifted their price target on PayPal from $70.00 to $75.00 and gave the company an equal weight rating in a research report on Wednesday. Morgan Stanley reiterated an equal weight rating and set a $66.00 price target (down previously from $118.00) on shares of PayPal in a research report on Tuesday, January 9th. Sanford C. Bernstein lifted their price target on PayPal from $66.00 to $68.00 and gave the company a market perform rating in a research report on Thursday, April 18th. Finally, DZ Bank downgraded PayPal from a buy rating to a hold rating and set a $60.00 target price for the company. in a research report on Friday, February 9th. Twenty-five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PayPal has a consensus rating of Hold and an average price target of $72.73.

PayPal Stock Down 1.9 %

Shares of NASDAQ PYPL opened at $65.70 on Wednesday. PayPal has a 52 week low of $50.25 and a 52 week high of $76.54. The business has a 50-day simple moving average of $63.69 and a two-hundred day simple moving average of $60.50. The company has a quick ratio of 1.29, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The company has a market cap of $68.73 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.20 and a beta of 1.41.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the prior year, the business earned $0.86 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts anticipate that PayPal will post 4.13 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Frank Keller sold 7,686 shares of the business’s 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 sale, 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 document filed with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PayPal

A number of hedge funds and other institutional investors have recently bought and sold shares of PYPL. Norges Bank purchased a new stake in PayPal in the fourth quarter worth about $749,561,000. Nordea Investment Management AB grew its holdings in PayPal by 420.6% in the third quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock worth $190,371,000 after purchasing an additional 2,616,774 shares during the period. FMR LLC grew its holdings in PayPal by 29.5% in the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock worth $404,367,000 after purchasing an additional 1,575,930 shares during the period. LSV Asset Management grew its holdings in PayPal by 271.6% in the third quarter. LSV Asset Management now owns 1,533,300 shares of the credit services provider’s stock worth $89,637,000 after purchasing an additional 1,120,700 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in PayPal by 125.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after purchasing an additional 958,130 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

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.