Barclays Raises PayPal (NASDAQ:PYPL) Price Target to $85.00

PayPal (NASDAQ:PYPL) had its price target upped by Barclays from $81.00 to $85.00 in a research report report published on Thursday, Benzinga reports. They currently have an overweight rating on the credit services provider’s stock.

A number of other brokerages also recently weighed in on PYPL. StockNews.com downgraded shares of PayPal from a buy rating to a hold rating in a research report on Monday. Susquehanna upped their target price on shares of PayPal from $71.00 to $83.00 and gave the stock a positive rating in a research note on Wednesday. Stephens upped their price objective on PayPal from $70.00 to $75.00 and gave the stock an equal weight rating in a research report on Wednesday, May 1st. TD Cowen lifted their target price on PayPal from $68.00 to $70.00 and gave the company a hold rating in a research report on Wednesday. Finally, New Street Research assumed coverage on PayPal in a research report on Friday, May 31st. They set a buy rating and a $80.00 price target for the company. Nineteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $74.94.

PayPal Price Performance

PYPL traded down $3.48 during trading on Thursday, hitting $61.83. The company’s stock had a trading volume of 9,744,782 shares, compared to its average volume of 14,623,047. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $63.21 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 0.95 and a beta of 1.42. The firm’s 50 day moving average price is $61.01 and its two-hundred day moving average price is $62.21. PayPal has a 12 month low of $50.25 and a 12 month high of $70.66.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the previous year, the business posted $0.83 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts forecast that PayPal will post 4.41 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Deborah M. Messemer sold 4,422 shares of PayPal 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 directly owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PayPal

Several large investors have recently modified their holdings of the stock. Hartford Financial Management Inc. increased its holdings in PayPal by 18.8% in the 4th quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock worth $63,000 after acquiring an additional 163 shares during the last quarter. Pittenger & Anderson Inc. raised its position in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the period. Verity Asset Management Inc. boosted its holdings in PayPal by 1.9% in the 1st quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock valued at $650,000 after purchasing an additional 181 shares during the period. Waldron Private Wealth LLC increased its stake in PayPal by 1.9% in the 4th quarter. Waldron Private Wealth LLC now owns 9,619 shares of the credit services provider’s stock worth $590,000 after acquiring an additional 182 shares during the last quarter. Finally, Indiana Trust & Investment Management CO boosted its position in shares of PayPal by 18.6% during the 1st quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock valued at $79,000 after acquiring an additional 184 shares during the last quarter. Hedge funds and other 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.