PayPal (NASDAQ:PYPL) Price Target Raised to $70.00 at TD Cowen

PayPal (NASDAQ:PYPL) had its price objective upped by TD Cowen from $68.00 to $70.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a hold rating on the credit services provider’s stock.

A number of other brokerages also recently commented on PYPL. Monness Crespi & Hardt boosted their target price on shares of PayPal from $80.00 to $88.00 and gave the stock a buy rating in a research note on Monday, July 29th. The Goldman Sachs Group reiterated a neutral rating and set a $69.00 target price on shares of PayPal in a research note on Monday, June 24th. BMO Capital Markets boosted their target price on shares of PayPal from $65.00 to $72.00 and gave the stock a market perform rating in a research note on Wednesday. Needham & Company LLC reiterated a hold rating on shares of PayPal in a research note on Tuesday, April 30th. Finally, JMP Securities boosted their target price on shares of PayPal from $70.00 to $82.00 and gave the stock a market outperform rating in a research note on Wednesday, May 1st. Nineteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $74.94.

PayPal Stock Performance

NASDAQ:PYPL opened at $61.98 on Wednesday. The company has a fifty day simple moving average of $61.01 and a two-hundred day simple moving average of $62.24. The company has a market cap of $63.36 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth 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 52 week low of $50.25 and a 52 week high of $70.66.

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

Insiders Place Their Bets

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Institutional Trading of PayPal

Several large investors have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of PayPal in the fourth quarter valued at approximately $749,561,000. Charles Schwab Investment Management Inc. raised its stake in PayPal by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock worth $428,449,000 after purchasing an additional 265,116 shares during the period. Clearbridge Investments LLC raised its stake in PayPal by 15.8% during the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after purchasing an additional 904,804 shares during the period. First Trust Advisors LP raised its stake in PayPal by 1.7% during the fourth quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock worth $225,283,000 after purchasing an additional 61,384 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in PayPal by 5.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock worth $176,789,000 after purchasing an additional 146,643 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.