Paypal (PYPL) Price Target Increased to $119.00 by Analysts at BMO Capital Markets

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Paypal (NASDAQ:PYPL) had its price target raised by BMO Capital Markets from $112.00 to $119.00 in a report issued on Friday, MarketBeat.com reports. They currently have an outperform rating on the credit services provider’s stock.

PYPL has been the subject of several other research reports. Zacks Investment Research lowered shares of Paypal from a buy rating to a hold rating in a report on Wednesday, July 25th. BidaskClub lowered shares of Paypal from a strong-buy rating to a buy rating in a research note on Tuesday, September 18th. Credit Suisse Group upped their target price on shares of Paypal from $93.00 to $100.00 and gave the stock a $87.38 rating in a research note on Thursday, July 19th. Jefferies Financial Group reaffirmed a buy rating and issued a $110.00 target price on shares of Paypal in a research note on Wednesday, August 29th. Finally, Wells Fargo & Co upped their target price on shares of Paypal from $95.00 to $101.00 and gave the stock an outperform rating in a research note on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-four have assigned a buy rating to the stock. Paypal currently has a consensus rating of Buy and a consensus price target of $92.65.

Shares of PYPL stock traded up $7.30 on Friday, hitting $84.78. The stock had a trading volume of 34,136,589 shares, compared to its average volume of 11,462,846. Paypal has a twelve month low of $68.61 and a twelve month high of $93.70. The firm has a market capitalization of $91.71 billion, a price-to-earnings ratio of 60.99, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31.

Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Thursday, October 18th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. Paypal had a net margin of 13.98% and a return on equity of 13.58%. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the business earned $0.46 EPS. The firm’s revenue was up 13.7% on a year-over-year basis. Sell-side analysts predict that Paypal will post 1.74 earnings per share for the current year.

In other Paypal news, insider Daniel H. Schulman sold 26,000 shares of the business’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $82.46, for a total transaction of $2,143,960.00. Following the sale, the insider now directly owns 338,506 shares of the company’s stock, valued at approximately $27,913,204.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Aaron Anderson sold 17,062 shares of the business’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $88.22, for a total transaction of $1,505,209.64. Following the sale, the vice president now directly owns 9,921 shares in the company, valued at $875,230.62. The disclosure for this sale can be found here. Insiders have sold a total of 149,732 shares of company stock worth $13,204,157 over the last three months. Insiders own 0.20% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Paypal by 1.5% in the 2nd quarter. BlackRock Inc. now owns 71,049,407 shares of the credit services provider’s stock valued at $5,916,285,000 after purchasing an additional 1,060,330 shares during the period. Edgewood Management LLC raised its holdings in shares of Paypal by 2.5% in the 2nd quarter. Edgewood Management LLC now owns 16,448,586 shares of the credit services provider’s stock valued at $1,369,674,000 after purchasing an additional 396,410 shares during the period. Fundsmith Equity Fund L.P. bought a new stake in shares of Paypal in the 2nd quarter valued at about $1,266,514,000. Third Point LLC bought a new stake in shares of Paypal in the 2nd quarter valued at about $832,700,000. Finally, American Century Companies Inc. raised its holdings in shares of Paypal by 15.0% in the 2nd quarter. American Century Companies Inc. now owns 9,428,321 shares of the credit services provider’s stock valued at $785,096,000 after purchasing an additional 1,227,210 shares during the period. 79.71% of the stock is currently owned by institutional investors.

Paypal Company Profile

PayPal Holdings, Inc operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

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