PayPal (NASDAQ:PYPL) Price Target Raised to $72.00 at UBS Group

PayPal (NASDAQ:PYPL) had its price objective lifted by UBS Group from $71.00 to $72.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the credit services provider’s stock. UBS Group’s price target points to a potential upside of 9.21% from the stock’s current price.

PYPL has been the subject of several other reports. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Tuesday, April 30th. New Street Research assumed coverage on shares of PayPal in a research report on Friday, May 31st. They issued a “buy” rating and a $80.00 price target for the company. BMO Capital Markets boosted their target price on shares of PayPal from $65.00 to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday. Macquarie raised their price target on shares of PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Susquehanna boosted their price objective on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a report on Wednesday. Nineteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $74.72.

PayPal Trading Up 3.0 %

NASDAQ PYPL traded up $1.93 during mid-day trading on Wednesday, reaching $65.93. 10,757,529 shares of the stock were exchanged, compared to its average volume of 14,522,681. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market cap of $68.97 billion, a P/E ratio of 16.66, a P/E/G ratio of 0.96 and a beta of 1.42. The stock has a 50 day simple moving average of $60.86 and a 200-day simple moving average of $62.16. PayPal has a one year low of $50.25 and a one year high of $76.54.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data 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. The company had revenue of $7.89 billion for 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 firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 EPS. On average, analysts anticipate that PayPal will post 4.16 EPS for the current year.

Insider Activity at PayPal

In other 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 value of $272,616.30. Following the completion of the transaction, the director now directly owns 13,976 shares of the company’s stock, valued at $861,620.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On PayPal

Institutional investors and hedge funds have recently modified their holdings of the company. Hartford Financial Management Inc. grew its stake in PayPal by 18.8% during the fourth quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock valued at $63,000 after acquiring an additional 163 shares in the last quarter. Pittenger & Anderson Inc. boosted its holdings in PayPal by 77.5% in the 1st 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. grew its position in shares of PayPal by 1.9% during 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 in the last quarter. Waldron Private Wealth LLC increased its holdings in shares of PayPal by 1.9% in the fourth quarter. Waldron Private Wealth LLC now owns 9,619 shares of the credit services provider’s stock worth $590,000 after purchasing an additional 182 shares during the period. Finally, Indiana Trust & Investment Management CO raised its position in shares of PayPal by 18.6% in the first quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock worth $79,000 after buying an additional 184 shares in the last quarter. 68.32% of the stock is 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.