PayPal (NASDAQ:PYPL) Price Target Raised to $83.00

PayPal (NASDAQ:PYPL) had its price target increased by Susquehanna from $71.00 to $83.00 in a report published on Wednesday morning, Benzinga reports. Susquehanna currently has a positive rating on the credit services provider’s stock.

Other research analysts also recently issued reports about the company. Citigroup boosted their price target on PayPal from $79.00 to $81.00 and gave the stock a buy rating in a research report on Monday, June 10th. The Goldman Sachs Group restated a neutral rating and set a $69.00 target price on shares of PayPal in a report on Monday, June 24th. UBS Group increased their price target on shares of PayPal from $63.00 to $71.00 and gave the company a neutral rating in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods restated an outperform rating and set a $78.00 price objective on shares of PayPal in a research note on Thursday, July 11th. Finally, TD Cowen raised their target price on shares of PayPal from $58.00 to $68.00 and gave the company a hold rating in a research note on Wednesday, May 1st. Nineteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, PayPal has a consensus rating of Hold and an average price target of $74.94.

PayPal Stock Performance

Shares of PYPL stock opened at $61.98 on Wednesday. The firm has a market cap of $63.36 billion, a PE ratio of 15.61, a P/E/G ratio of 0.93 and a beta of 1.42. PayPal has a 12 month low of $50.25 and a 12 month high of $70.66. The company’s fifty day simple moving average is $61.01 and its 200-day simple moving average is $62.24. 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 (NASDAQ:PYPL) last issued 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 firm had revenue of $7.89 billion for 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 company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS. Equities research analysts expect that PayPal will post 4.42 EPS for the current fiscal year.

Insider Activity at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction 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 completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of PayPal during the 4th quarter valued at approximately $25,000. Pittenger & Anderson Inc. lifted its stake in PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank acquired a new stake in PayPal in the first quarter valued at approximately $27,000. Private Wealth Management Group LLC bought a new stake in shares of PayPal during the fourth quarter worth $29,000. Finally, Family Firm Inc. acquired a new position in shares of PayPal during the second quarter worth $29,000. 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.