Barclays Boosts PayPal (NASDAQ:PYPL) Price Target to $85.00

PayPal (NASDAQ:PYPL) had its target price boosted by Barclays from $81.00 to $85.00 in a research note published on Thursday morning, Benzinga reports. They currently have an overweight rating on the credit services provider’s stock.

Several other equities analysts have also recently weighed in on PYPL. Needham & Company LLC reiterated a hold rating on shares of PayPal in a research report on Tuesday, April 30th. The Goldman Sachs Group reissued a neutral rating and set a $69.00 target price on shares of PayPal in a research note on Monday, June 24th. New Street Research began coverage on shares of PayPal in a research note on Friday, May 31st. They set a buy rating and a $80.00 target price for the company. Macquarie lifted their target price on shares of PayPal from $85.00 to $90.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Finally, Citigroup lifted their target price on shares of PayPal from $79.00 to $81.00 and gave the company a buy rating in a research note on Monday, June 10th. Nineteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $74.94.

PayPal Trading Down 5.1 %

NASDAQ PYPL opened at $61.98 on Thursday. PayPal has a twelve month low of $50.25 and a twelve month high of $70.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.24. The stock has a market cap of $63.36 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 0.93 and a beta of 1.42. The firm’s 50 day moving average price is $61.01 and its two-hundred day moving average price is $62.26.

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

Insider Transactions at PayPal

In other news, Director Deborah M. Messemer sold 4,422 shares of the business’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 owns 13,976 shares in the company, valued at approximately $861,620.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PYPL. Norges Bank bought a new position in shares of PayPal during the 4th quarter worth about $749,561,000. The Manufacturers Life Insurance Company increased its stake in PayPal by 125.1% in 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 acquiring an additional 958,130 shares during the period. Clearbridge Investments LLC increased its stake in PayPal by 15.8% in the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after acquiring an additional 904,804 shares during the period. Boston Partners increased its stake in PayPal by 4,024.5% in the fourth 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. Finally, Panagora Asset Management Inc. increased its stake in PayPal by 1,309.2% in the fourth quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock valued at $49,168,000 after acquiring an additional 743,833 shares during the period. Institutional investors 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.