PayPal (NASDAQ:PYPL) Earns “Buy” Rating from Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of PayPal (NASDAQ:PYPL) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $80.00 price objective on the credit services provider’s stock.

PYPL has been the subject of a number of other reports. Needham & Company LLC reiterated a hold rating on shares of PayPal in a research note on Tuesday, April 30th. Royal Bank of Canada reaffirmed an outperform rating and issued a $84.00 target price on shares of PayPal in a research report on Friday, June 28th. TD Cowen increased their price target on PayPal from $58.00 to $68.00 and gave the company a hold rating in a report on Wednesday, May 1st. Citigroup lifted their price objective on PayPal from $79.00 to $81.00 and gave the stock a buy rating in a report on Monday, June 10th. Finally, BMO Capital Markets increased their target price on PayPal from $64.00 to $65.00 and gave the company a market perform rating in a report on Wednesday, May 1st. Nineteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $74.94.

PayPal Price Performance

Shares of PYPL opened at $61.98 on Wednesday. PayPal has a twelve month low of $50.25 and a twelve month high of $70.66. The company has a market capitalization of $63.36 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 0.93 and a beta of 1.42. The firm has a 50 day moving average of $61.01 and a 200 day moving average of $62.22. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter in the previous year, the business earned $0.83 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts anticipate that PayPal will post 4.42 earnings per share for the current fiscal year.

Insider Transactions at PayPal

In related news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the transaction, the director now directly owns 13,976 shares of the company’s stock, valued at $861,620.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Sapient Capital LLC purchased a new position in shares of PayPal in the 4th quarter worth approximately $806,000. Louisiana State Employees Retirement System purchased a new position in shares of PayPal during the 4th quarter worth about $9,267,000. Fiduciary Alliance LLC grew its holdings in PayPal by 604.7% during the 1st quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after purchasing an additional 45,544 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in PayPal by 9.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock worth $53,344,000 after purchasing an additional 73,687 shares during the period. Finally, Vontobel Holding Ltd. lifted its stake in PayPal by 2.2% in the fourth quarter. Vontobel Holding Ltd. now owns 1,737,878 shares of the credit services provider’s stock worth $106,723,000 after purchasing an additional 37,692 shares during the last quarter. Institutional investors 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.