PayPal (NASDAQ:PYPL) PT Raised to $68.00 at TD Cowen

PayPal (NASDAQ:PYPL) had its price objective lifted by TD Cowen from $58.00 to $68.00 in a research report report published on Wednesday, Benzinga reports. TD Cowen currently has a hold rating on the credit services provider’s stock.

Several other research firms have also recently weighed in on PYPL. Stephens raised their price objective on shares of PayPal from $70.00 to $75.00 and gave the company an equal weight rating in a research report on Wednesday. Morgan Stanley reissued an equal weight rating and issued a $66.00 price target (down previously from $118.00) on shares of PayPal in a report on Tuesday, January 9th. Wedbush reiterated an outperform rating and issued a $85.00 price objective on shares of PayPal in a research report on Thursday, February 8th. UBS Group boosted their target price on PayPal from $63.00 to $71.00 and gave the stock a neutral rating in a research report on Wednesday. Finally, Monness Crespi & Hardt raised their price target on PayPal from $80.00 to $88.00 and gave the company a buy rating in a report on Monday, April 29th. Twenty-five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $72.73.

PayPal Price Performance

Shares of PayPal stock opened at $65.70 on Wednesday. PayPal has a 1-year low of $50.25 and a 1-year high of $76.54. The firm’s 50-day moving average price is $63.69 and its two-hundred day moving average price is $60.50. 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 stock has a market capitalization of $68.73 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 1.20 and a beta of 1.41.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 earnings per share. On average, equities analysts predict that PayPal will post 4.13 earnings per share for the current fiscal year.

Insider Buying and Selling at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the stock in a transaction that occurred 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 owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its stake in PayPal by 15.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 42,005 shares of the credit services provider’s stock valued at $2,814,000 after purchasing an additional 5,689 shares during the last quarter. Valley Wealth Managers Inc. raised its stake in PayPal by 1.0% in the first quarter. Valley Wealth Managers Inc. now owns 253,999 shares of the credit services provider’s stock valued at $17,015,000 after buying an additional 2,403 shares during the period. Mediolanum International Funds Ltd acquired a new stake in shares of PayPal in the first quarter valued at approximately $5,485,000. Callan Capital LLC boosted its stake in shares of PayPal by 5.6% during the 1st quarter. Callan Capital LLC now owns 4,180 shares of the credit services provider’s stock worth $280,000 after acquiring an additional 220 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of PayPal during the 1st quarter worth approximately $289,000. 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.