PayPal (NASDAQ:PYPL) Upgraded to Neutral at Piper Sandler

by · The Cerbat Gem

Piper Sandler upgraded shares of PayPal (NASDAQ:PYPL – Free Report) to a neutral rating in a report issued on Tuesday, Marketbeat reports. The firm currently has $74.00 price objective on the credit services provider’s stock.

Several other analysts have also recently commented on PYPL. Seaport Res Ptn cut shares of PayPal from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 17th. BMO Capital Markets reduced their target price on shares of PayPal from $83.00 to $79.00 and set a “market perform” rating for the company in a report on Wednesday, April 30th. Arete Research set a $81.00 price target on shares of PayPal in a report on Thursday, March 27th. Evercore ISI assumed coverage on PayPal in a research report on Wednesday, April 9th. They set an “in-line” rating and a $65.00 price target on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.42.

Get Our Latest Research Report on PayPal

PayPal Price Performance

Shares of PYPL opened at $73.17 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The company’s fifty day moving average price is $69.90 and its 200-day moving average price is $74.80. PayPal has a 1-year low of $55.85 and a 1-year high of $93.66. The firm has a market capitalization of $71.16 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.21 and a beta of 1.45.

PayPal (NASDAQ:PYPL – Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.17. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The business had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. During the same quarter in the previous year, the business earned $1.08 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts predict that PayPal will post 5.03 EPS for the current year.

Insiders Place Their Bets

In other PayPal news, Director Deborah M. Messemer sold 3,795 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.00, for a total value of $277,035.00. Following the transaction, the director now directly owns 13,976 shares of the company’s stock, valued at $1,020,248. This trade represents a 21.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Diego Scotti sold 3,839 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $281,168.36. Following the transaction, the executive vice president now owns 16,989 shares in the company, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,796 shares of company stock valued at $863,028 in the last 90 days. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mpwm Advisory Solutions LLC purchased a new stake in shares of PayPal in the fourth quarter valued at about $25,000. Hurley Capital LLC acquired a new position in PayPal in the 4th quarter valued at about $27,000. Evermay Wealth Management LLC grew its stake in shares of PayPal by 726.0% in the 1st quarter. Evermay Wealth Management LLC now owns 413 shares of the credit services provider’s stock valued at $27,000 after buying an additional 363 shares during the period. Garde Capital Inc. purchased a new stake in shares of PayPal in the 1st quarter valued at approximately $28,000. Finally, Tsfg LLC increased its holdings in shares of PayPal by 81.6% during the 1st quarter. Tsfg LLC now owns 445 shares of the credit services provider’s stock worth $29,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

About PayPal

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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.

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