TD Cowen Raises PayPal (NASDAQ:PYPL) Price Target to $70.00

PayPal (NASDAQ:PYPL) had its price objective upped by equities research analysts at TD Cowen from $68.00 to $70.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the credit services provider’s stock. TD Cowen’s price objective indicates a potential upside of 6.24% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Monness Crespi & Hardt lifted their price objective on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company lifted their price objective on PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday. Citigroup lifted their price objective on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Argus raised PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $84.00 price objective on shares of PayPal in a research note on Wednesday. Nineteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $75.03.

PayPal Stock Performance

PYPL traded up $1.89 during trading hours on Wednesday, hitting $65.89. The company’s stock had a trading volume of 21,249,991 shares, compared to its average volume of 14,586,719. PayPal has a fifty-two week low of $50.25 and a fifty-two week high of $76.54. The firm has a market capitalization of $68.92 billion, a PE ratio of 16.62, a PEG ratio of 0.96 and a beta of 1.42. The company has a 50-day simple moving average of $60.86 and a 200 day simple moving average of $62.16. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $0.83 EPS. As a group, sell-side analysts expect 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 firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the sale, the director now owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PYPL. Pittenger & Anderson Inc. boosted its position in PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 172 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of PayPal in the 4th quarter worth about $25,000. American National Bank acquired a new stake in shares of PayPal in the 1st quarter worth about $27,000. Register Financial Advisors LLC bought a new stake in PayPal in the 1st quarter worth about $30,000. Finally, CarsonAllaria Wealth Management Ltd. grew its position in shares of PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 185 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.