PayPal (NASDAQ:PYPL) Price Target Raised to $71.00

PayPal (NASDAQ:PYPL) had its target price boosted by UBS Group from $63.00 to $71.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a neutral rating on the credit services provider’s stock.

PYPL has been the topic of several other research reports. Oppenheimer restated a market perform rating on shares of PayPal in a research report on Thursday, January 25th. StockNews.com raised PayPal from a hold rating to a buy rating in a research note on Friday, April 5th. DZ Bank cut PayPal from a buy rating to a hold rating and set a $60.00 price objective on the stock. in a report on Friday, February 9th. BTIG Research reaffirmed a neutral rating on shares of PayPal in a research note on Friday, January 5th. Finally, Evercore ISI lifted their price target on shares of PayPal from $60.00 to $65.00 and gave the stock an in-line rating in a research note on Wednesday. Twenty-five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $72.73.

PayPal Price Performance

NASDAQ:PYPL opened at $65.70 on Wednesday. PayPal has a 52-week low of $50.25 and a 52-week high of $76.54. The stock has a fifty day moving average of $63.56 and a 200 day moving average of $60.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.29 and a current ratio of 1.28. The firm has a market capitalization of $68.73 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 1.22 and a beta of 1.41.

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

Insider Activity

In related news, SVP Frank Keller sold 7,686 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the transaction, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On PayPal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of PayPal during the 4th quarter valued at $749,561,000. Nordea Investment Management AB lifted its position in PayPal by 420.6% during the 3rd quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock valued at $190,371,000 after acquiring an additional 2,616,774 shares during the period. FMR LLC boosted its stake in PayPal by 29.5% during the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock worth $404,367,000 after acquiring an additional 1,575,930 shares in the last quarter. LSV Asset Management grew its holdings in PayPal by 271.6% in the third quarter. LSV Asset Management now owns 1,533,300 shares of the credit services provider’s stock worth $89,637,000 after purchasing an additional 1,120,700 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of PayPal by 125.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after purchasing an additional 958,130 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.