PayPal (NASDAQ:PYPL) Price Target Increased to $70.00 by Analysts at JMP Securities

PayPal (NASDAQ:PYPL) had its price objective hoisted by JMP Securities from $68.00 to $70.00 in a report issued on Wednesday, Benzinga reports. JMP Securities currently has a market outperform rating on the credit services provider’s stock.

A number of other equities research analysts have also recently issued reports on the company. BMO Capital Markets reduced their price objective on PayPal from $65.00 to $60.00 and set a market perform rating for the company in a report on Thursday, February 8th. DZ Bank cut PayPal from a buy rating to a hold rating and set a $60.00 price objective for the company. in a report on Friday, February 9th. Citigroup cut their price target on PayPal from $76.00 to $73.00 and set a buy rating for the company in a research note on Thursday, February 8th. Evercore ISI boosted their price target on PayPal from $56.00 to $60.00 and gave the company an in-line rating in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $74.00 price target on shares of PayPal in a research note on Thursday, March 21st. Twenty-three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $70.53.

PayPal Trading Down 0.3 %

PayPal stock opened at $63.26 on Wednesday. PayPal has a 52 week low of $50.25 and a 52 week high of $77.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $66.59 billion, a P/E ratio of 16.47, a PEG ratio of 1.44 and a beta of 1.45. The stock has a 50-day simple moving average of $62.15 and a 200 day simple moving average of $59.89.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The business had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the company posted $1.01 earnings per share. PayPal’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts expect that PayPal will post 3.93 earnings per share for the current year.

Insider Buying and Selling at PayPal

In other PayPal news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the sale, the senior vice president now owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

A number of institutional investors and hedge funds have recently made changes to their positions in PYPL. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of PayPal by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,246,996 shares of the credit services provider’s stock worth $144,215,000 after purchasing an additional 138,875 shares in the last quarter. Dakota Wealth Management boosted its position in shares of PayPal by 8.6% during the 1st quarter. Dakota Wealth Management now owns 4,894 shares of the credit services provider’s stock worth $566,000 after purchasing an additional 387 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of PayPal by 15.4% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,860 shares of the credit services provider’s stock worth $793,000 after acquiring an additional 918 shares during the last quarter. Covestor Ltd raised its holdings in shares of PayPal by 136.1% in the 1st quarter. Covestor Ltd now owns 1,334 shares of the credit services provider’s stock worth $154,000 after acquiring an additional 769 shares during the last quarter. Finally, Donaldson Capital Management LLC raised its holdings in shares of PayPal by 5.3% in the 1st quarter. Donaldson Capital Management LLC now owns 3,095 shares of the credit services provider’s stock worth $358,000 after acquiring an additional 155 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

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.