PayPal (NASDAQ:PYPL) Price Target Raised to $84.00 at Royal Bank of Canada

PayPal (NASDAQ:PYPL) had its price target lifted by Royal Bank of Canada from $74.00 to $84.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an outperform rating on the credit services provider’s stock.

PYPL has been the topic of a number of other reports. Morgan Stanley reissued an equal weight rating and issued a $66.00 price objective (down from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. Susquehanna increased their price target on shares of PayPal from $61.00 to $65.00 and gave the company a neutral rating in a research report on Wednesday, January 24th. UBS Group lifted their price objective on PayPal from $63.00 to $71.00 and gave the stock a neutral rating in a research report on Wednesday. StockNews.com raised PayPal from a hold rating to a buy rating in a research note on Friday, April 5th. Finally, BTIG Research reissued a neutral rating on shares of PayPal in a research report on Friday, January 5th. Twenty-five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $72.73.

PayPal Price Performance

PYPL stock opened at $66.14 on Wednesday. The company has a market cap of $69.62 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.26 and a beta of 1.41. The company has a current ratio of 1.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $63.39 and a 200-day moving average of $60.39. PayPal has a 12-month low of $50.25 and a 12-month high of $76.54.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data 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 firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. 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 earnings per share. As a group, equities analysts expect that PayPal will post 4.02 EPS for the current fiscal year.

Insider Activity at PayPal

In related news, SVP Frank Keller sold 7,686 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the sale, the senior vice president now directly owns 23,430 shares in the company, valued at approximately $1,420,795.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in PayPal in the fourth quarter valued at approximately $749,561,000. Nordea Investment Management AB grew its holdings in PayPal by 420.6% during the 3rd quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock valued at $190,371,000 after purchasing an additional 2,616,774 shares in the last quarter. FMR LLC increased its stake in PayPal by 29.5% during the 3rd quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock worth $404,367,000 after buying an additional 1,575,930 shares during the period. LSV Asset Management increased its stake in PayPal by 271.6% during the 3rd quarter. LSV Asset Management now owns 1,533,300 shares of the credit services provider’s stock worth $89,637,000 after buying an additional 1,120,700 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in PayPal by 125.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after buying an additional 958,130 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other 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.