PayPal (NASDAQ:PYPL) Price Target Raised to $65.00 at BMO Capital Markets

PayPal (NASDAQ:PYPL) had its price objective boosted by BMO Capital Markets from $64.00 to $65.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a market perform rating on the credit services provider’s stock.

Several other equities research analysts also recently weighed in on the stock. William Blair reissued an outperform rating on shares of PayPal in a research note on Thursday, February 8th. BTIG Research reissued a neutral rating on shares of PayPal in a research note on Friday, January 5th. JMP Securities upped their price objective on shares of PayPal from $70.00 to $82.00 and gave the stock a market outperform rating in a research note on Wednesday. Monness Crespi & Hardt increased their price objective on shares of PayPal from $80.00 to $88.00 and gave the company a buy rating in a research note on Monday. Finally, Canaccord Genuity Group dropped their target price on PayPal from $100.00 to $80.00 and set a buy rating on the stock in a research report on Thursday, February 8th. Twenty-five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $72.73.

PayPal Trading Down 2.6 %

Shares of PYPL stock opened at $66.14 on Wednesday. The stock has a fifty day simple moving average of $63.39 and a two-hundred day simple moving average of $60.39. PayPal has a 52-week low of $50.25 and a 52-week high of $76.54. The firm has a market capitalization of $69.62 billion, a PE ratio of 16.66, a PEG ratio of 1.26 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.29 and a current ratio of 1.28.

PayPal (NASDAQ:PYPL) last issued its earnings results 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). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same period last year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts predict that PayPal will post 4.02 EPS for the current fiscal year.

Insider Activity at PayPal

In other PayPal 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 sale, the senior vice president now owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Institutional Trading of PayPal

A number of hedge funds and other institutional investors have recently made changes to their positions in PYPL. Seelaus Asset Management LLC acquired a new position in PayPal in the first quarter valued at $252,000. Moloney Securities Asset Management LLC increased its position in PayPal by 14.1% in the 1st quarter. Moloney Securities Asset Management LLC now owns 13,607 shares of the credit services provider’s stock valued at $912,000 after acquiring an additional 1,686 shares during the period. Palisade Asset Management LLC purchased a new stake in PayPal during the 1st quarter valued at approximately $156,000. Greenwood Capital Associates LLC acquired a new stake in PayPal during the 1st quarter worth approximately $208,000. Finally, Fortem Financial Group LLC grew its stake in shares of PayPal by 18.3% in the 1st quarter. Fortem Financial Group LLC now owns 19,112 shares of the credit services provider’s stock valued at $1,280,000 after purchasing an additional 2,950 shares during the last quarter. Institutional investors and hedge funds 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.