Wells Fargo & Company Raises PayPal (NASDAQ:PYPL) Price Target to $123.00

PayPal (NASDAQ:PYPLGet Rating) had its target price lifted by Wells Fargo & Company from $97.00 to $123.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the credit services provider’s stock.

Several other brokerages have also recently commented on PYPL. Canaccord Genuity Group reduced their price target on PayPal from $215.00 to $160.00 and set a buy rating for the company in a research report on Thursday, April 28th. Credit Suisse Group lowered their target price on PayPal from $100.00 to $95.00 and set an outperform rating on the stock in a research note on Wednesday, June 22nd. Mizuho lowered their target price on PayPal from $175.00 to $120.00 in a research note on Monday, May 2nd. JMP Securities lowered their target price on PayPal from $112.00 to $100.00 and set a market outperform rating on the stock in a research note on Friday, July 15th. Finally, Morgan Stanley increased their target price on PayPal from $129.00 to $134.00 and gave the stock an overweight rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $139.43.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $95.32 on Wednesday. The stock has a 50 day moving average price of $79.13 and a 200 day moving average price of $98.21. PayPal has a 52 week low of $67.58 and a 52 week high of $296.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $110.38 billion, a PE ratio of 54.78, a price-to-earnings-growth ratio of 2.23 and a beta of 1.49.

Insider Activity at PayPal

In related news, EVP Peggy Alford sold 21,791 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $97.82, for a total transaction of $2,131,595.62. Following the sale, the executive vice president now owns 18,100 shares of the company’s stock, valued at approximately $1,770,542. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Meridian Wealth Management LLC raised its position in PayPal by 10.5% during the 2nd quarter. Meridian Wealth Management LLC now owns 18,087 shares of the credit services provider’s stock worth $1,263,000 after purchasing an additional 1,721 shares during the last quarter. Wealth Advisory Solutions LLC raised its position in PayPal by 78.2% during the 2nd quarter. Wealth Advisory Solutions LLC now owns 58,318 shares of the credit services provider’s stock worth $4,073,000 after purchasing an additional 25,595 shares during the last quarter. Tamar Securities LLC raised its position in PayPal by 6.2% during the 2nd quarter. Tamar Securities LLC now owns 74,707 shares of the credit services provider’s stock worth $5,218,000 after purchasing an additional 4,390 shares during the last quarter. M. Kulyk & Associates LLC raised its position in PayPal by 27.7% during the 2nd quarter. M. Kulyk & Associates LLC now owns 3,160 shares of the credit services provider’s stock worth $221,000 after purchasing an additional 685 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its position in PayPal by 17.6% during the 2nd quarter. Pinebridge Investments L.P. now owns 256,149 shares of the credit services provider’s stock worth $17,889,000 after purchasing an additional 38,318 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

About PayPal

(Get Rating)

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.

See Also

Analyst Recommendations for PayPal (NASDAQ:PYPL)

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