Paypal (PYPL) Given New $88.00 Price Target at Credit Suisse Group

Paypal (NASDAQ:PYPL) had its target price cut by analysts at Credit Suisse Group from $91.00 to $88.00 in a research report issued to clients and investors on Wednesday. The firm presently has an “outperform” rating on the credit services provider’s stock. Credit Suisse Group’s price objective suggests a potential upside of 16.85% from the company’s previous close.

PYPL has been the topic of several other reports. Zacks Investment Research lowered shares of Paypal from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 25th. BidaskClub lowered shares of Paypal from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 25th. Morgan Stanley increased their target price on shares of Paypal from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, October 20th. Goldman Sachs Group reissued a “buy” rating and set a $90.00 target price (up from $80.00) on shares of Paypal in a research note on Thursday, December 21st. Finally, Robert W. Baird reissued a “buy” rating and set a $80.00 target price (up from $65.00) on shares of Paypal in a research note on Friday, October 20th. Nine investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $76.97.

Paypal (NASDAQ:PYPL) traded up $0.34 during trading hours on Wednesday, hitting $75.31. 3,360,000 shares of the stock were exchanged, compared to its average volume of 11,430,000. Paypal has a 12 month low of $40.94 and a 12 month high of $86.32. The company has a market cap of $90,520.00 and a price-to-earnings ratio of 51.23.

Paypal (NASDAQ:PYPL) last posted its quarterly earnings data on Wednesday, January 31st. The credit services provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. Paypal had a net margin of 13.71% and a return on equity of 11.59%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period in the prior year, the firm posted $0.42 EPS. The company’s quarterly revenue was up 25.6% on a year-over-year basis. analysts expect that Paypal will post 1.75 earnings per share for the current fiscal year.

In other news, VP Aaron Anderson sold 9,367 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $77.84, for a total value of $729,127.28. Following the completion of the sale, the vice president now owns 18,480 shares in the company, valued at $1,438,483.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rodney C. Adkins bought 6,750 shares of the stock in a transaction dated 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 acquisition, the director now owns 10,149 shares of the company’s stock, valued at $751,431.96. The disclosure for this purchase can be found here. In the last quarter, insiders sold 126,344 shares of company stock valued at $9,818,481. 6.00% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in PYPL. Colony Group LLC purchased a new stake in shares of Paypal in the second quarter valued at about $280,000. Public Employees Retirement System of Ohio increased its holdings in Paypal by 1.1% during the second quarter. Public Employees Retirement System of Ohio now owns 814,699 shares of the credit services provider’s stock worth $43,725,000 after buying an additional 9,019 shares during the last quarter. North Star Asset Management Inc. increased its holdings in Paypal by 0.6% during the second quarter. North Star Asset Management Inc. now owns 177,307 shares of the credit services provider’s stock worth $9,516,000 after buying an additional 1,082 shares during the last quarter. WINTON GROUP Ltd increased its holdings in Paypal by 178.9% during the second quarter. WINTON GROUP Ltd now owns 139,366 shares of the credit services provider’s stock worth $7,480,000 after buying an additional 89,390 shares during the last quarter. Finally, Bangor Savings Bank increased its holdings in Paypal by 34.1% during the second quarter. Bangor Savings Bank now owns 16,736 shares of the credit services provider’s stock worth $898,000 after buying an additional 4,256 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

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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.

Analyst Recommendations for Paypal (NASDAQ:PYPL)

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