PayPal (NASDAQ:PYPL) PT Raised to $68.00 at Mizuho

PayPal (NASDAQ:PYPL) had its price target lifted by equities research analysts at Mizuho from $60.00 to $68.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the credit services provider’s stock. Mizuho’s price objective points to a potential upside of 2.35% from the company’s previous close.

PYPL has been the subject of a number of other research reports. Wells Fargo & Company increased their price target on PayPal from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Evercore ISI increased their target price on PayPal from $56.00 to $60.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a report on Friday, January 5th. Canaccord Genuity Group cut their price objective 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. Finally, JMP Securities increased their price target on PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Twenty-four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, PayPal has a consensus rating of “Hold” and a consensus target price of $71.67.

PayPal Stock Down 2.2 %

NASDAQ PYPL traded down $1.48 during trading hours on Wednesday, hitting $66.44. The company had a trading volume of 5,436,529 shares, compared to its average volume of 16,438,652. The firm’s 50 day moving average is $63.21 and its 200 day moving average is $60.35. The company has a market capitalization of $69.94 billion, a price-to-earnings ratio of 17.15, a P/E/G ratio of 1.25 and a beta of 1.45. PayPal has a fifty-two week low of $50.25 and a fifty-two week high of $76.54. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 20.84%. The firm had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter in the prior year, the business earned $0.86 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that PayPal will post 4.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PayPal news, SVP Frank Keller sold 7,686 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

A number of institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in PayPal in the 4th quarter valued at approximately $749,561,000. Nordea Investment Management AB grew its stake in shares of 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 acquiring an additional 2,616,774 shares during the last quarter. FMR LLC increased 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 acquiring an additional 1,575,930 shares during the period. LSV Asset Management raised its stake in PayPal by 271.6% during 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 raised its stake in PayPal by 125.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after purchasing an additional 958,130 shares during the last quarter. 68.32% of the stock is currently 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.