PayPal (NASDAQ:PYPL) PT Raised to $84.00

PayPal (NASDAQ:PYPL) had its price target boosted by Royal Bank of Canada from $74.00 to $84.00 in a research note released on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the credit services provider’s stock.

Other analysts have also issued reports about the company. BMO Capital Markets cut their price target on PayPal from $65.00 to $60.00 and set a market perform rating on the stock in a report on Thursday, February 8th. JMP Securities boosted their target price on PayPal from $70.00 to $82.00 and gave the company a market outperform rating in a research note on Wednesday. Wedbush reaffirmed an outperform rating and set a $85.00 price target on shares of PayPal in a research note on Thursday, February 8th. DZ Bank lowered shares of PayPal from a buy rating to a hold rating and set a $60.00 price objective on the stock. in a research report on Friday, February 9th. Finally, Evercore ISI increased their target price on shares of PayPal from $60.00 to $65.00 and gave the stock an in-line rating in a report on Wednesday. Twenty-five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $72.73.

PayPal Price Performance

Shares of 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 firm has a market capitalization of $69.62 billion, a PE ratio of 16.66, a P/E/G ratio of 1.26 and a beta of 1.41. The stock has a 50 day simple moving average of $63.39 and a 200 day simple moving average of $60.39. PayPal has a 52-week low of $50.25 and a 52-week high of $76.54.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.14). The company had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 EPS. Sell-side analysts predict that PayPal will post 4.02 EPS for the current fiscal year.

Insider Activity

In related news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction dated 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 directly owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PYPL. Morgan Stanley grew its position in PayPal by 4.5% during the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after buying an additional 873,181 shares in the last quarter. Norges Bank bought a new stake in shares of PayPal during the 4th quarter valued at $749,561,000. Northern Trust Corp grew its holdings in shares of PayPal by 0.7% during the 3rd quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock worth $687,902,000 after purchasing an additional 78,105 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of PayPal by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock worth $428,449,000 after purchasing an additional 265,116 shares during the period. Finally, FMR LLC lifted its position in PayPal by 29.5% during 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. 68.32% of the stock is owned by institutional investors.

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.