Paypal (NASDAQ:PYPL) had its target price lifted by investment analysts at Morgan Stanley from $84.00 to $88.00 in a note issued to investors on Thursday. The firm presently has an “overweight” rating on the credit services provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 12.24% from the company’s current price.
A number of other analysts also recently issued reports on the company. Credit Suisse Group restated an “outperform” rating and issued a $85.00 price target (up from $74.00) on shares of Paypal in a research report on Friday, November 17th. Barclays raised their price target on Paypal from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, October 20th. Citigroup reiterated a “buy” rating and issued a $87.00 target price on shares of Paypal in a research note on Friday, November 17th. Zacks Investment Research lowered Paypal from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Argus increased their target price on Paypal from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Eleven investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Paypal presently has an average rating of “Buy” and an average target price of $76.91.
Shares of Paypal (PYPL) traded down $6.92 on Thursday, reaching $78.40. The company had a trading volume of 44,262,211 shares, compared to its average volume of 7,620,000. The company has a market capitalization of $94,230.00 and a P/E ratio of 53.33. Paypal has a 12 month low of $39.02 and a 12 month high of $86.32.
In other news, Director Rodney C. Adkins bought 6,750 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was purchased at an average price of $74.04 per share, with a total value of $499,770.00. Following the completion of the acquisition, the director now directly owns 10,149 shares of the company’s stock, valued at approximately $751,431.96. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 6.00% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in PYPL. San Francisco Sentry Investment Group CA lifted its holdings in shares of Paypal by 352.8% during the third quarter. San Francisco Sentry Investment Group CA now owns 1,562 shares of the credit services provider’s stock worth $100,000 after purchasing an additional 1,217 shares during the period. Arcadia Investment Management Corp MI lifted its holdings in shares of Paypal by 230.4% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,434 shares of the credit services provider’s stock worth $106,000 after purchasing an additional 1,000 shares during the period. Front Row Advisors LLC acquired a new stake in shares of Paypal during the fourth quarter worth about $111,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Paypal during the third quarter worth about $113,000. Finally, Kistler Tiffany Companies LLC lifted its holdings in shares of Paypal by 511.9% during the third quarter. Kistler Tiffany Companies LLC now owns 2,013 shares of the credit services provider’s stock worth $129,000 after purchasing an additional 1,684 shares during the period. 81.70% of the stock is owned by hedge funds and other institutional investors.
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Paypal Company Profile
PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
