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

PayPal (NASDAQ:PYPL) had its price objective lifted by UBS Group from $63.00 to $71.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the credit services provider’s stock. UBS Group’s price objective points to a potential upside of 8.07% from the stock’s current price.

A number of other brokerages have also weighed in on PYPL. Citigroup decreased their target price on PayPal from $76.00 to $73.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Oppenheimer reaffirmed a “market perform” rating on shares of PayPal in a research note on Thursday, January 25th. Mizuho raised their target price on shares of PayPal from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $85.00 price target on shares of PayPal in a research report on Thursday, February 8th. Finally, Evercore ISI increased their price objective on shares of PayPal from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Wednesday. Twenty-five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, PayPal currently has an average rating of “Hold” and an average target price of $72.73.

PayPal Trading Down 1.9 %

PYPL traded down $1.28 during trading hours on Wednesday, reaching $65.70. 15,421,815 shares of the company’s stock traded hands, compared to its average volume of 16,569,914. The firm has a 50-day moving average price of $63.56 and a 200 day moving average price of $60.44. The firm has a market capitalization of $68.73 billion, a PE ratio of 16.55, a PEG ratio of 1.22 and a beta of 1.41. The company has a quick ratio of 1.29, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. PayPal has a 52-week low of $50.25 and a 52-week high of $76.54.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same period last year, the business posted $0.86 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that PayPal will post 4.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the sale, 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. 0.14% of the stock is owned by insiders.

Hedge Funds Weigh In On PayPal

Large investors have recently made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in PayPal in the fourth quarter valued at $25,000. Sutton Wealth Advisors Inc. increased its stake in shares of PayPal by 115.0% in the 3rd quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 237 shares in the last quarter. Pittenger & Anderson Inc. raised its holdings in PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares during the period. American National Bank purchased a new position in PayPal during the first quarter worth approximately $27,000. Finally, Private Wealth Management Group LLC acquired a new stake in PayPal in the fourth quarter valued at approximately $29,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.