PayPal (NASDAQ:PYPL) Price Target Raised to $77.00 at Robert W. Baird

PayPal (NASDAQ:PYPL) had its target price upped by Robert W. Baird from $70.00 to $77.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the credit services provider’s stock.

Several other equities analysts also recently weighed in on the company. JMP Securities increased their target price on PayPal from $68.00 to $70.00 and gave the stock a market outperform rating in a research report on Wednesday, April 17th. Canaccord Genuity Group decreased their target price on shares of PayPal from $100.00 to $80.00 and set a buy rating on the stock in a research report on Thursday, February 8th. Wells Fargo & Company increased their price target on shares of PayPal from $55.00 to $60.00 and gave the stock an equal weight rating in a research note on Monday, January 29th. Royal Bank of Canada reissued an outperform rating and set a $74.00 price objective on shares of PayPal in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. dropped their price objective on PayPal from $75.00 to $70.00 and set an overweight rating for the company in a report on Thursday, February 8th. Twenty-five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, PayPal presently has an average rating of Hold and a consensus price target of $72.73.

PayPal Stock Down 2.6 %

Shares of NASDAQ:PYPL opened at $66.14 on Wednesday. The stock’s fifty day simple moving average is $63.39 and its 200-day simple moving average is $60.39. PayPal has a 52-week low of $50.25 and a 52-week high of $76.54. The company has a market capitalization of $69.62 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.26 and a beta of 1.41. The company has a quick ratio of 1.29, a current ratio of 1.28 and a debt-to-equity ratio of 0.47.

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 firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. As a group, equities research analysts forecast that PayPal will post 4.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 23,430 shares in the company, valued at $1,420,795.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On PayPal

Several hedge funds and other institutional investors have recently bought and sold shares of PYPL. Norges Bank bought a new position in shares of PayPal in the fourth quarter valued at $749,561,000. Nordea Investment Management AB grew its stake in shares of PayPal by 420.6% in the 3rd quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock valued at $190,371,000 after buying an additional 2,616,774 shares in the last quarter. FMR LLC increased its stake in shares of PayPal by 29.5% during the 3rd 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 last quarter. LSV Asset Management lifted its stake in shares of PayPal by 271.6% in the 3rd quarter. LSV Asset Management now owns 1,533,300 shares of the credit services provider’s stock valued at $89,637,000 after purchasing an additional 1,120,700 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in PayPal by 125.1% during 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 buying an additional 958,130 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

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.