Monness Crespi & Hardt Boosts PayPal (NASDAQ:PYPL) Price Target to $88.00

PayPal (NASDAQ:PYPL) had its price target lifted by Monness Crespi & Hardt from $80.00 to $88.00 in a research report sent to investors on Monday, MarketBeat.com reports. They currently have a buy rating on the credit services provider’s stock.

Several other equities analysts also recently weighed in on the stock. Susquehanna lifted their price target on shares of PayPal from $61.00 to $65.00 and gave the company a neutral rating in a report on Wednesday, January 24th. BTIG Research reaffirmed a neutral rating on shares of PayPal in a report on Friday, January 5th. JPMorgan Chase & Co. lowered their target price on shares of PayPal from $75.00 to $70.00 and set an overweight rating on the stock in a report on Thursday, February 8th. Evercore ISI boosted their target price on shares of PayPal from $56.00 to $60.00 and gave the stock an in-line rating in a report on Tuesday, March 26th. Finally, Wells Fargo & Company boosted their target price on shares of PayPal from $55.00 to $60.00 and gave the stock an equal weight rating in a report on Monday, January 29th. Twenty-five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, PayPal presently has an average rating of Hold and an average target price of $72.73.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $66.14 on Monday. The firm has a 50 day moving average of $63.39 and a 200 day moving average of $60.39. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $69.62 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.25 and a beta of 1.45. PayPal has a 12-month low of $50.25 and a 12-month high of $76.54.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.14). The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 earnings per share. On average, research analysts anticipate that PayPal will post 4.02 earnings per share for the current year.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the transaction, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Morgan Stanley lifted its stake in PayPal by 4.5% in the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after acquiring an additional 873,181 shares during the period. Norges Bank purchased a new stake in PayPal in the fourth quarter worth about $749,561,000. Northern Trust Corp lifted its stake in PayPal by 0.7% in the third quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock worth $687,902,000 after acquiring an additional 78,105 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in PayPal by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock worth $428,449,000 after acquiring an additional 265,116 shares during the period. Finally, FMR LLC lifted its stake in PayPal by 29.5% in the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock worth $404,367,000 after acquiring an additional 1,575,930 shares during the period. 68.32% of the stock is currently owned by institutional investors.

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.