PayPal (NASDAQ:PYPL) Price Target Increased to $82.00 by Analysts at JMP Securities

PayPal (NASDAQ:PYPL) had its target price raised by JMP Securities from $70.00 to $82.00 in a report published on Wednesday, Benzinga reports. JMP Securities currently has a market outperform rating on the credit services provider’s stock.

Several other brokerages also recently commented on PYPL. Canaccord Genuity Group cut their price target on shares of PayPal from $100.00 to $80.00 and set a buy rating on the stock in a report on Thursday, February 8th. Argus lowered PayPal from a buy rating to a hold rating in a research note on Friday, February 9th. UBS Group increased their target price on PayPal from $56.00 to $63.00 and gave the stock a neutral rating in a research note on Friday, March 1st. JPMorgan Chase & Co. lowered their target price on shares of PayPal from $75.00 to $70.00 and set an overweight rating for the company in a research note on Thursday, February 8th. Finally, Mizuho reduced their price target on shares of PayPal from $65.00 to $60.00 and set a neutral rating on the stock in a research note on Thursday, February 8th. Twenty-five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $72.73.

PayPal Trading Down 2.6 %

Shares of NASDAQ PYPL opened at $66.14 on Wednesday. PayPal has a 1-year low of $50.25 and a 1-year high of $76.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.29. The business’s 50 day moving average is $63.39 and its two-hundred day moving average is $60.39. The stock has a market capitalization of $69.62 billion, a P/E ratio of 16.66, a PEG ratio of 1.26 and a beta of 1.41.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). The company 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 21.58%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 EPS. As a group, research analysts expect that PayPal will post 4.02 EPS for the current year.

Insider Activity

In other PayPal news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Hedge funds have recently made changes to their positions in the company. Morgan Stanley lifted its stake in shares of 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 buying an additional 873,181 shares in the last quarter. Norges Bank acquired a new position in shares of PayPal during the 4th quarter valued at about $749,561,000. Northern Trust Corp boosted its holdings in PayPal by 0.7% in the 3rd quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock valued at $687,902,000 after purchasing an additional 78,105 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of PayPal by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock worth $428,449,000 after buying an additional 265,116 shares during the last quarter. Finally, FMR LLC raised its position in shares of PayPal by 29.5% during the 3rd quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after buying an additional 1,575,930 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

About PayPal

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.