Berenberg Bank initiated coverage on shares of Paypal (NASDAQ:PYPL) in a research report report published on Thursday, Marketbeat.com reports. The firm issued a buy rating and a $104.00 price target on the credit services provider’s stock.

Several other brokerages have also recently issued reports on PYPL. ValuEngine upgraded shares of Paypal from a hold rating to a buy rating in a report on Wednesday, May 2nd. Wedbush increased their price target on shares of Paypal from $90.00 to $100.00 and gave the company an outperform rating in a research report on Friday, June 8th. Bank of America reissued a buy rating and set a $98.00 price target (up from $88.00) on shares of Paypal in a research report on Tuesday, June 26th. BidaskClub raised shares of Paypal from a buy rating to a strong-buy rating in a research report on Wednesday, May 23rd. Finally, UBS Group reissued a buy rating and set a $90.00 price target on shares of Paypal in a research report on Friday, May 18th. Seven analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $89.32.

Shares of Paypal stock opened at $92.64 on Thursday. Paypal has a 1 year low of $59.63 and a 1 year high of $93.01. The stock has a market cap of $107.25 billion, a price-to-earnings ratio of 66.65, a price-to-earnings-growth ratio of 2.99 and a beta of 1.25.

Paypal (NASDAQ:PYPL) last issued its earnings results on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.17. Paypal had a net margin of 14.02% and a return on equity of 12.91%. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same period in the prior year, the business earned $0.46 EPS. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. equities analysts anticipate that Paypal will post 1.72 earnings per share for the current year.

In other Paypal news, CFO John D. Rainey sold 5,462 shares of the firm’s stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $88.22, for a total transaction of $481,857.64. Following the completion of the transaction, the chief financial officer now directly owns 113,307 shares of the company’s stock, valued at approximately $9,995,943.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel H. Schulman sold 26,000 shares of the firm’s stock in a transaction that occurred on Friday, June 29th. The stock was sold at an average price of $83.42, for a total transaction of $2,168,920.00. The disclosure for this sale can be found here. Insiders sold a total of 123,732 shares of company stock valued at $10,641,077 over the last ninety days. 0.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of PYPL. Archford Capital Strategies LLC raised its position in Paypal by 92.6% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock worth $108,000 after buying an additional 625 shares during the last quarter. Jacobi Capital Management LLC raised its position in Paypal by 122.4% during the 1st quarter. Jacobi Capital Management LLC now owns 1,461 shares of the credit services provider’s stock worth $110,000 after buying an additional 804 shares during the last quarter. QCI Asset Management Inc. NY raised its position in Paypal by 160.6% during the 1st quarter. QCI Asset Management Inc. NY now owns 1,574 shares of the credit services provider’s stock worth $119,000 after buying an additional 970 shares during the last quarter. Well Done LLC purchased a new position in Paypal during the 1st quarter worth approximately $128,000. Finally, Landaas & Co. WI ADV purchased a new position in Paypal during the 2nd quarter worth approximately $135,000. 79.60% of the stock is owned by institutional investors.

About Paypal

PayPal Holdings, Inc operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

Read More: Price to Earnings Ratio (PE)

Analyst Recommendations for Paypal (NASDAQ:PYPL)

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