The Goldman Sachs Group Reiterates Neutral Rating for PayPal (NASDAQ:PYPL)

PayPal (NASDAQ:PYPL)‘s stock had its “neutral” rating reiterated by research analysts at The Goldman Sachs Group in a note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $69.00 price objective on the credit services provider’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 16.30% from the company’s current price.

Other analysts also recently issued reports about the company. JMP Securities lifted their price target on PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 1st. Royal Bank of Canada lifted their price target on PayPal from $74.00 to $84.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Robert W. Baird lifted their price target on PayPal from $70.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. BMO Capital Markets lifted their price target on PayPal from $64.00 to $65.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. Finally, New Street Research began coverage on PayPal in a report on Friday, May 31st. They set a “buy” rating and a $80.00 price target for the company. Twenty-one investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $73.64.

PayPal Trading Down 0.3 %

PYPL opened at $59.33 on Monday. PayPal has a 12 month low of $50.25 and a 12 month high of $76.54. The stock has a market capitalization of $62.06 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 0.99 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28. The business has a fifty day moving average price of $63.44 and a 200 day moving average price of $62.47.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts expect that PayPal will post 4.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the sale, the director now owns 13,976 shares in the company, valued at approximately $861,620.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PayPal

A number of institutional investors and hedge funds have recently modified their holdings of PYPL. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of PayPal in the 4th quarter worth approximately $25,000. Pittenger & Anderson Inc. grew its holdings in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the period. American National Bank acquired a new stake in shares of PayPal in the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC acquired a new stake in PayPal during the 4th quarter valued at $29,000. Finally, Register Financial Advisors LLC acquired a new stake in PayPal during the 1st quarter valued at $30,000. 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.