PayPal (NASDAQ:PYPL) PT Raised to $60.00

PayPal (NASDAQ:PYPL) had its target price hoisted by Evercore ISI from $56.00 to $60.00 in a research report released on Tuesday, Benzinga reports. They currently have an in-line rating on the credit services provider’s stock.

A number of other equities research analysts have also recently issued reports on the company. Canaccord Genuity Group cut their target price on PayPal from $100.00 to $80.00 and set a buy rating on the stock in a research note on Thursday, February 8th. Monness Crespi & Hardt cut their target price on PayPal from $95.00 to $80.00 and set a buy rating on the stock in a research note on Thursday, February 8th. Oppenheimer restated a market perform rating on shares of PayPal in a research note on Thursday, January 25th. Wells Fargo & Company lifted their price objective on shares of PayPal from $55.00 to $60.00 and gave the company an equal weight rating in a research note on Monday, January 29th. Finally, Stephens restated an equal weight rating and set a $70.00 price objective on shares of PayPal in a research note on Thursday, February 8th. Twenty-four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $70.47.

PayPal Stock Performance

PayPal stock opened at $66.99 on Tuesday. The company has a market cap of $71.80 billion, a PE ratio of 17.45, a P/E/G ratio of 1.51 and a beta of 1.44. The company has a fifty day moving average price of $61.56 and a two-hundred day moving average price of $59.46. 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 has a 12 month low of $50.25 and a 12 month high of $77.95.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. The firm had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 earnings per share. Research analysts expect that PayPal will post 3.95 earnings per share for the current year.

Insider Buying and Selling

In other PayPal 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 transaction, the senior vice president now owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PayPal

Several institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its stake in PayPal by 0.9% during the 2nd quarter. State Street Corp now owns 45,846,969 shares of the credit services provider’s stock valued at $3,059,368,000 after acquiring an additional 423,625 shares in the last quarter. Geode Capital Management LLC increased its holdings in PayPal by 1.1% in the first quarter. Geode Capital Management LLC now owns 20,947,345 shares of the credit services provider’s stock worth $1,586,966,000 after buying an additional 235,651 shares during the last quarter. Morgan Stanley increased its holdings in PayPal by 4.5% in 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 during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in PayPal by 110,462.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock worth $1,220,431,000 after buying an additional 17,120,572 shares during the last quarter. Finally, Norges Bank acquired a new position in PayPal in the fourth quarter worth approximately $1,022,333,000. 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.