PayPal (NASDAQ:PYPL) Given New $79.00 Price Target at Robert W. Baird

PayPal (NASDAQ:PYPL) had its price target raised by Robert W. Baird from $78.00 to $79.00 in a report released on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the credit services provider’s stock.

PYPL has been the subject of a number of other research reports. JPMorgan Chase & Co. reissued an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Susquehanna boosted their price objective on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research report on Monday, January 6th. BTIG Research restated a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Keefe, Bruyette & Woods decreased their target price on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, March 31st. Finally, Seaport Res Ptn cut shares of PayPal from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.77.

PayPal Stock Up 2.8 %

Shares of NASDAQ PYPL opened at $67.24 on Wednesday. The stock has a market capitalization of $65.72 billion, a P/E ratio of 16.77, a PEG ratio of 1.27 and a beta of 1.60. PayPal has a one year low of $55.85 and a one year high of $93.66. The firm’s 50 day simple moving average is $65.75 and its two-hundred day simple moving average is $78.11. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.16 by $0.17. The company had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 EPS. As a group, analysts expect that PayPal will post 5.03 EPS for the current fiscal year.

Insider Transactions at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mpwm Advisory Solutions LLC purchased a new stake in PayPal during the 4th quarter valued at about $25,000. Hurley Capital LLC bought a new position in shares of PayPal in the fourth quarter worth approximately $27,000. Rosenberg Matthew Hamilton grew its holdings in shares of PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after buying an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC increased its position in shares of PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 272 shares in the last quarter. Finally, Bernard Wealth Management Corp. purchased a new position in PayPal in the 4th quarter worth approximately $34,000. 68.32% of the stock is currently owned by 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.