PayPal (NASDAQ:PYPL) Price Target Increased to $68.00 by Analysts at TD Cowen

PayPal (NASDAQ:PYPL) had its price objective increased by TD Cowen from $58.00 to $68.00 in a research report report published on Wednesday morning, Benzinga reports. TD Cowen currently has a hold rating on the credit services provider’s stock.

A number of other equities analysts also recently issued reports on the company. Citigroup dropped their price target on PayPal from $76.00 to $73.00 and set a buy rating on the stock in a research note on Thursday, February 8th. JPMorgan Chase & Co. dropped their price target on PayPal from $75.00 to $70.00 and set an overweight 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. Evercore ISI raised their price target on PayPal from $60.00 to $65.00 and gave the stock an in-line rating in a research note on Wednesday. Finally, William Blair reaffirmed an outperform rating on shares of PayPal in a report on Thursday, February 8th. Twenty-five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $72.73.

PayPal Stock Performance

Shares of PYPL opened at $66.14 on Wednesday. The business’s fifty day simple moving average is $63.39 and its two-hundred day simple moving average is $60.39. The company has a current ratio of 1.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.47. PayPal has a 12 month low of $50.25 and a 12 month high of $76.54. The company has a market cap of $69.62 billion, a price-to-earnings ratio of 16.66, a P/E/G ratio of 1.26 and a beta of 1.41.

PayPal (NASDAQ:PYPL) last issued its earnings results 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 net margin of 14.26% and a return on equity of 21.58%. The business 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 posted $0.86 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts anticipate that PayPal will post 4.02 earnings per share for the current fiscal year.

Insider Buying and Selling at PayPal

In other PayPal news, SVP Frank Keller sold 7,686 shares of the business’s 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 completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Morgan Stanley boosted its holdings in shares of PayPal by 4.5% in the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after purchasing an additional 873,181 shares during the period. Norges Bank purchased a new stake in shares of PayPal in the fourth quarter valued at approximately $749,561,000. Northern Trust Corp boosted its holdings in shares of PayPal by 0.7% in the third quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock valued at $687,902,000 after purchasing an additional 78,105 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of PayPal by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock valued at $428,449,000 after purchasing an additional 265,116 shares during the period. Finally, FMR LLC boosted its holdings in shares of PayPal by 29.5% in the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after purchasing an additional 1,575,930 shares during the period. 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.