PayPal (NASDAQ:PYPL) Price Target Raised to $72.00 at BMO Capital Markets

PayPal (NASDAQ:PYPL) had its price objective upped by BMO Capital Markets from $65.00 to $72.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a market perform rating on the credit services provider’s stock.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group reiterated a buy rating and issued a $80.00 target price on shares of PayPal in a research note on Wednesday. Argus upgraded PayPal from a hold rating to a buy rating in a research report on Wednesday. Wells Fargo & Company lifted their price objective on PayPal from $60.00 to $65.00 and gave the stock an equal weight rating in a report on Wednesday, May 1st. Mizuho upgraded shares of PayPal from a neutral rating to a buy rating and upped their price target for the company from $68.00 to $90.00 in a report on Thursday, May 30th. Finally, TD Cowen raised their price target on PayPal from $58.00 to $68.00 and gave the stock a hold rating in a research note on Wednesday, May 1st. Nineteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $74.94.

PayPal Trading Down 5.1 %

NASDAQ:PYPL opened at $61.98 on Wednesday. PayPal has a one year low of $50.25 and a one year high of $70.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.28. The firm has a 50-day moving average of $61.01 and a 200-day moving average of $62.24. The company has a market cap of $63.36 billion, a PE ratio of 15.61, a PEG ratio of 0.93 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last released 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. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 earnings per share. As a group, equities research analysts expect that PayPal will post 4.42 EPS for the current fiscal year.

Insider Buying and Selling

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the sale, the director now owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.14% of the stock is owned by insiders.

Hedge Funds Weigh In On PayPal

Several large investors have recently made changes to their positions in PYPL. Norges Bank bought a new stake in PayPal during the 4th quarter valued at approximately $749,561,000. Charles Schwab Investment Management Inc. grew its holdings in 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 valued at $428,449,000 after buying an additional 265,116 shares in the last quarter. Clearbridge Investments LLC grew its holdings in PayPal by 15.8% during the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after buying an additional 904,804 shares in the last quarter. First Trust Advisors LP raised its position in shares of PayPal by 1.7% during the fourth quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock valued at $225,283,000 after buying an additional 61,384 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of PayPal by 5.1% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock worth $176,789,000 after buying an additional 146,643 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

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.