PayPal (NASDAQ:PYPL) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of PayPal (NASDAQ:PYPL) in a research report sent to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a $84.00 target price on the credit services provider’s stock.

A number of other brokerages have also recently weighed in on PYPL. Citigroup increased their price objective on PayPal from $79.00 to $81.00 and gave the stock a buy rating in a research note on Monday, June 10th. Stephens increased their target price on shares of PayPal from $70.00 to $75.00 and gave the stock an equal weight rating in a research report on Wednesday, May 1st. Mizuho upgraded shares of PayPal from a neutral rating to a buy rating and boosted their price target for the company from $68.00 to $90.00 in a research report on Thursday, May 30th. JMP Securities raised their price objective on shares of PayPal from $70.00 to $82.00 and gave the stock a market outperform rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group reiterated a neutral rating and issued a $69.00 target price on shares of PayPal in a research note on Monday, June 24th. Twenty-one investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, PayPal currently has an average rating of Hold and a consensus price target of $73.64.

PayPal Trading Down 0.6 %

Shares of PYPL stock opened at $58.03 on Friday. The firm has a fifty day moving average of $63.18 and a 200-day moving average of $62.43. The stock has a market cap of $60.70 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.95 and a beta of 1.43. PayPal has a 52-week low of $50.25 and a 52-week high of $76.54. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28.

PayPal (NASDAQ:PYPL) last posted its quarterly 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). The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. On average, equities research analysts forecast that PayPal will post 4.14 earnings per share for the current fiscal year.

Insider Activity

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of PayPal stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the transaction, the director now directly owns 13,976 shares in the company, valued at $861,620.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On PayPal

Hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of PayPal in the fourth quarter worth $749,561,000. The Manufacturers Life Insurance Company raised its stake in shares of PayPal by 125.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after purchasing an additional 958,130 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of PayPal by 15.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after buying an additional 904,804 shares during the last quarter. Morgan Stanley grew its stake 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 buying an additional 873,181 shares in the last quarter. Finally, Boston Partners grew its position in shares of PayPal by 4,024.5% in the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock valued at $48,099,000 after acquiring an additional 764,258 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Company Profile

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.