Susquehanna Raises PayPal (NASDAQ:PYPL) Price Target to $83.00

PayPal (NASDAQ:PYPL) had its target price raised by analysts at Susquehanna from $71.00 to $83.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “positive” rating on the credit services provider’s stock. Susquehanna’s price objective indicates a potential upside of 27.69% from the company’s previous close.

PYPL has been the subject of several other reports. JMP Securities raised their price target on PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 1st. UBS Group upped their target price on shares of PayPal from $63.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Monness Crespi & Hardt boosted their price target on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup increased their price objective on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a research note on Thursday, July 11th. Twenty investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PayPal has a consensus rating of “Hold” and an average price target of $73.97.

PayPal Stock Up 1.6 %

PYPL stock opened at $65.00 on Wednesday. The firm has a market cap of $67.99 billion, a PE ratio of 16.37, a PEG ratio of 0.96 and a beta of 1.42. PayPal has a one year low of $50.25 and a one year high of $76.54. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. The firm’s 50 day moving average price is $60.86 and its 200-day moving average price is $62.16.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $0.83 EPS. On average, equities research analysts anticipate that PayPal will post 4.16 EPS for the current year.

Insider Buying and Selling at PayPal

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

Hedge Funds Weigh In On PayPal

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Argus Investors Counsel Inc. raised its holdings in shares of PayPal by 14.0% in the 4th quarter. Argus Investors Counsel Inc. now owns 19,150 shares of the credit services provider’s stock worth $1,176,000 after purchasing an additional 2,350 shares during the period. Independence Bank of Kentucky lifted its holdings in shares of PayPal by 1,194.4% during the 4th quarter. Independence Bank of Kentucky now owns 2,330 shares of the credit services provider’s stock valued at $143,000 after acquiring an additional 2,150 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in PayPal during the 4th quarter worth $202,000. Trust Point Inc. acquired a new stake in PayPal in the 4th quarter valued at $349,000. Finally, Ballentine Partners LLC raised its position in PayPal by 89.1% in the fourth quarter. Ballentine Partners LLC now owns 10,904 shares of the credit services provider’s stock valued at $670,000 after purchasing an additional 5,138 shares during the period. 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.