PayPal’s (PYPL) Buy Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of PayPal (NASDAQ:PYPL) in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. They currently have a $96.00 price objective on the credit services provider’s stock.

A number of other analysts have also weighed in on PYPL. Barclays decreased their target price on shares of PayPal from $110.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. DZ Bank raised PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Friday, February 28th. StockNews.com cut PayPal from a “buy” rating to a “hold” rating in a research report on Wednesday, April 23rd. Citigroup reaffirmed an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Finally, Morgan Stanley boosted their price objective on PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.77.

PayPal Price Performance

PayPal stock opened at $67.24 on Wednesday. The firm 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 company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The business has a fifty day moving average price of $65.75 and a 200-day moving average price of $78.11.

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

Insiders Place Their Bets

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction that occurred 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 $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of PayPal during the fourth quarter valued at about $1,086,508,000. Capital Research Global Investors grew its holdings in shares of PayPal by 108.2% during the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock worth $1,529,823,000 after acquiring an additional 9,313,783 shares during the period. Artisan Partners Limited Partnership raised its position in shares of PayPal by 284.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock worth $666,100,000 after acquiring an additional 5,772,198 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of PayPal by 174.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after purchasing an additional 2,689,162 shares during the period. Finally, FMR LLC boosted its position in shares of PayPal by 12.9% during the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock valued at $1,615,134,000 after purchasing an additional 2,161,582 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.