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

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

Several other equities analysts have also recently commented on the stock. UBS Group upped their target price on shares of PayPal from $71.00 to $72.00 and gave the company a neutral rating in a research note on Wednesday. Monness Crespi & Hardt upped their target price on shares of PayPal from $80.00 to $88.00 and gave the company a buy rating in a research note on Monday, July 29th. Sanford C. Bernstein raised shares of PayPal from a market perform rating to an outperform rating and boosted their price target for the company from $71.00 to $78.00 in a report on Wednesday. William Blair lowered shares of PayPal from an outperform rating to a market perform rating in a report on Thursday, July 18th. Finally, Argus raised shares of PayPal from a hold rating to a buy rating in a report on Wednesday. Nineteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $74.94.

PayPal Price Performance

Shares of PayPal stock opened at $61.98 on Wednesday. The stock has a market capitalization of $63.36 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 0.93 and a beta of 1.42. PayPal has a 1-year low of $50.25 and a 1-year high of $70.66. The firm has a fifty day simple moving average of $61.01 and a 200-day simple moving average of $62.24. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.83 EPS. On average, sell-side analysts expect that PayPal will post 4.42 earnings per share for the current year.

Insider Buying and Selling at PayPal

In related news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the sale, the director now directly owns 13,976 shares in the company, valued at approximately $861,620.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of PayPal

A number of hedge funds have recently modified their holdings of PYPL. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of PayPal in the 4th quarter valued at approximately $25,000. Pittenger & Anderson Inc. increased its stake in PayPal by 77.5% during 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 in the last quarter. American National Bank bought a new stake in PayPal during the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC bought a new stake in PayPal during the 4th quarter worth approximately $29,000. Finally, Family Firm Inc. bought a new stake in PayPal during the 2nd quarter worth approximately $29,000. 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.