Royal Bank Of Canada Reaffirms “Outperform” Rating for PayPal (NASDAQ:PYPL)

Royal Bank Of Canada reissued their outperform rating on shares of PayPal (NASDAQ:PYPL) in a research report released on Thursday,Benzinga reports. They currently have a $88.00 price target on the credit services provider’s stock.

A number of other research firms also recently commented on PYPL. Canaccord Genuity Group reissued a “buy” rating and set a $96.00 price objective on shares of PayPal in a report on Wednesday, April 30th. Barclays reduced their price target on shares of PayPal from $110.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Truist Financial began coverage on PayPal in a report on Monday, June 2nd. They issued a “sell” rating and a $68.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Wednesday, April 30th. Finally, BMO Capital Markets decreased their target price on PayPal from $83.00 to $79.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.42.

PayPal Stock Performance

Shares of PYPL stock opened at $73.17 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a 50 day simple moving average of $69.90 and a 200-day simple moving average of $74.80. The company has a market cap of $71.16 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 1.21 and a beta of 1.45. PayPal has a 12-month low of $55.85 and a 12-month high of $93.66.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.17. The firm had revenue of $7.79 billion during the quarter, compared to analysts’ expectations of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. PayPal’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 earnings per share. On average, equities analysts forecast that PayPal will post 5.03 EPS for the current year.

Insiders Place Their Bets

In other PayPal news, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $281,168.36. Following the transaction, the executive vice president now directly owns 16,989 shares of the company’s stock, valued at $1,244,274.36. The trade was a 18.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Suzan Kereere sold 4,162 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $304,824.88. Following the sale, the insider now owns 48,483 shares of the company’s stock, valued at approximately $3,550,894.92. This represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,796 shares of company stock valued at $863,028 over the last quarter. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On PayPal

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of PayPal by 0.3% during the first quarter. Vanguard Group Inc. now owns 86,221,849 shares of the credit services provider’s stock worth $5,625,976,000 after purchasing an additional 276,339 shares in the last quarter. Geode Capital Management LLC lifted its position in PayPal by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider’s stock worth $1,849,884,000 after acquiring an additional 271,836 shares in the last quarter. FMR LLC boosted its holdings in PayPal by 12.9% in the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock worth $1,615,134,000 after acquiring an additional 2,161,582 shares during the period. Capital Research Global Investors grew its position in PayPal by 108.2% in the fourth quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock valued at $1,529,823,000 after acquiring an additional 9,313,783 shares in the last quarter. Finally, Norges Bank acquired a new stake in PayPal in the fourth quarter valued at approximately $1,086,508,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.