PayPal (NASDAQ:PYPL) Stock Rating Upgraded by Argus

Argus upgraded shares of PayPal (NASDAQ:PYPL) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group cut their target price on shares of PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Royal Bank of Canada reiterated an outperform rating and set a $84.00 target price on shares of PayPal in a report on Friday, June 28th. JMP Securities increased their price target on PayPal from $70.00 to $82.00 and gave the stock a market outperform rating in a report on Wednesday, May 1st. UBS Group boosted their price objective on PayPal from $63.00 to $71.00 and gave the company a neutral rating in a research report on Wednesday, May 1st. Finally, Susquehanna raised their target price on shares of PayPal from $71.00 to $83.00 and gave the stock a positive rating in a report on Wednesday. Nineteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $74.94.

PayPal Stock Down 5.1 %

NASDAQ:PYPL opened at $61.98 on Wednesday. The stock’s fifty day simple moving average is $61.01 and its 200-day simple moving average is $62.22. The firm has a market capitalization of $63.36 billion, a P/E ratio of 15.61, a P/E/G ratio of 0.93 and a beta of 1.42. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal has a 12-month low of $50.25 and a 12-month high of $70.66.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.20. The company had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 EPS. Equities research analysts expect that PayPal will post 4.42 earnings per share for the current year.

Insider Activity at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction that occurred on 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 owns 13,976 shares of the company’s stock, valued at $861,620.40. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PayPal

Hedge funds have recently added to or reduced their stakes in the business. Argus Investors Counsel Inc. lifted its stake in shares of PayPal by 14.0% during the 4th quarter. Argus Investors Counsel Inc. now owns 19,150 shares of the credit services provider’s stock worth $1,176,000 after buying an additional 2,350 shares during the last quarter. Independence Bank of Kentucky lifted its position in PayPal by 1,194.4% during the fourth quarter. Independence Bank of Kentucky now owns 2,330 shares of the credit services provider’s stock worth $143,000 after acquiring an additional 2,150 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in PayPal during the fourth quarter worth approximately $202,000. Trust Point Inc. bought a new stake in shares of PayPal during the fourth quarter worth approximately $349,000. Finally, Ballentine Partners LLC grew its position in shares of PayPal by 89.1% in the fourth quarter. Ballentine Partners LLC now owns 10,904 shares of the credit services provider’s stock valued at $670,000 after purchasing an additional 5,138 shares during the last quarter. 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.