PayPal (NASDAQ:PYPL) PT Raised to $65.00

PayPal (NASDAQ:PYPL) had its price objective hoisted by Wells Fargo & Company from $60.00 to $65.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the credit services provider’s stock.

PYPL has been the subject of a number of other reports. BMO Capital Markets lifted their price objective on PayPal from $64.00 to $65.00 and gave the company a market perform rating in a research note on Wednesday. Daiwa Capital Markets downgraded PayPal from an outperform rating to a neutral rating and dropped their target price for the company from $64.00 to $62.00 in a research report on Tuesday, February 13th. Robert W. Baird boosted their price target on shares of PayPal from $70.00 to $77.00 and gave the stock an outperform rating in a research note on Wednesday. Citigroup lowered their price objective on shares of PayPal from $76.00 to $73.00 and set a buy rating for the company in a research note on Thursday, February 8th. Finally, Mizuho upped their target price on shares of PayPal from $60.00 to $68.00 and gave the stock a neutral rating in a research note on Wednesday. Twenty-five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, PayPal presently has a consensus rating of Hold and an average price target of $72.73.

PayPal Trading Down 1.9 %

NASDAQ PYPL opened at $65.70 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.29. The stock has a market capitalization of $68.73 billion, a P/E ratio of 16.55, a PEG ratio of 1.22 and a beta of 1.41. The firm’s 50-day moving average is $63.56 and its two-hundred day moving average is $60.44. PayPal has a 12 month low of $50.25 and a 12 month high of $76.54.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts anticipate that PayPal will post 4.07 earnings per share for the current year.

Insider Activity at PayPal

In other news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the sale, the senior vice president now owns 23,430 shares in the company, valued at $1,420,795.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. boosted its holdings in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 172 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in PayPal during the 4th quarter worth $25,000. American National Bank purchased a new position in PayPal during the 1st quarter worth $27,000. Sutton Wealth Advisors Inc. increased its stake in PayPal by 115.0% in the third quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 237 shares during the period. Finally, Register Financial Advisors LLC purchased a new stake in shares of PayPal in the first quarter valued at about $30,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

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.