PayPal (NASDAQ:PYPL) Price Target Raised to $55.00

by · The Markets Daily

PayPal (NASDAQ:PYPL – Free Report) had its target price increased by Bank of America from $48.00 to $55.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the credit services provider’s stock.

Several other equities analysts also recently commented on the stock. TD Cowen reaffirmed a “hold” rating on shares of PayPal in a research note on Tuesday, February 3rd. Mizuho reaffirmed a “neutral” rating and set a $50.00 price objective (down from $60.00) on shares of PayPal in a research note on Thursday, April 16th. UBS Group set a $50.00 price objective on shares of PayPal in a research note on Thursday, April 16th. KGI Securities reaffirmed a “hold” rating and set a $55.00 price objective on shares of PayPal in a research note on Monday, March 2nd. Finally, Wells Fargo & Company lowered their price objective on shares of PayPal from $67.00 to $48.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 4th. Seven equities research analysts have rated the stock with a Buy rating, thirty-three have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PayPal currently has an average rating of “Hold” and a consensus price target of $56.39.

Check Out Our Latest Stock Report on PayPal

PayPal Stock Performance

Shares of NASDAQ:PYPL opened at $49.75 on Tuesday. The company has a market cap of $44.76 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 1.47 and a beta of 1.40. The company has a 50-day moving average price of $45.70 and a 200-day moving average price of $55.44. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.49. PayPal has a 12 month low of $38.46 and a 12 month high of $79.50.

PayPal (NASDAQ:PYPL – Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The credit services provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.06). The firm had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.82 billion. PayPal had a net margin of 15.77% and a return on equity of 25.42%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the company posted $1.19 earnings per share. As a group, equities analysts anticipate that PayPal will post 5.32 EPS for the current year.

PayPal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, March 4th. PayPal’s dividend payout ratio is presently 10.35%.

Insider Buying and Selling

In related news, insider Suzan Kereere sold 37,613 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $41.49, for a total value of $1,560,563.37. Following the completion of the transaction, the insider directly owned 30,983 shares of the company’s stock, valued at $1,285,484.67. This represents a 54.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Chris Natali sold 2,208 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $44.73, for a total transaction of $98,763.84. Following the completion of the transaction, the chief accounting officer directly owned 1,140 shares of the company’s stock, valued at approximately $50,992.20. The trade was a 65.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 87,608 shares of company stock valued at $3,831,535 over the last three months. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On PayPal

Institutional investors have recently bought and sold shares of the stock. National Pension Service increased its stake in shares of PayPal by 1.8% during the third quarter. National Pension Service now owns 2,855,897 shares of the credit services provider’s stock valued at $191,516,000 after purchasing an additional 51,268 shares in the last quarter. Merit Financial Group LLC increased its stake in shares of PayPal by 15.5% during the third quarter. Merit Financial Group LLC now owns 164,901 shares of the credit services provider’s stock valued at $11,058,000 after purchasing an additional 22,139 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of PayPal by 7.9% during the third quarter. Nordea Investment Management AB now owns 4,292,583 shares of the credit services provider’s stock valued at $291,338,000 after purchasing an additional 313,180 shares in the last quarter. Rakuten Investment Management Inc. bought a new position in shares of PayPal during the third quarter valued at approximately $13,210,000. Finally, Ariose Capital Management Ltd increased its stake in shares of PayPal by 347.0% during the third quarter. Ariose Capital Management Ltd now owns 193,100 shares of the credit services provider’s stock valued at $12,949,000 after purchasing an additional 149,898 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

More PayPal News

Here are the key news stories impacting PayPal this week:

About PayPal

(Get Free Report)

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.

Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.

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