PayPal (NASDAQ:PYPL) Price Target Increased to $88.00 by Analysts at Monness Crespi & Hardt

PayPal (NASDAQ:PYPL) had its price target increased by equities research analysts at Monness Crespi & Hardt from $80.00 to $88.00 in a research report issued on Monday, Briefing.com reports. The firm currently has a “buy” rating on the credit services provider’s stock. Monness Crespi & Hardt’s price objective indicates a potential upside of 33.41% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley reiterated an “equal weight” rating and issued a $66.00 price target (down from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. BMO Capital Markets decreased their price target on PayPal from $65.00 to $60.00 and set a “market perform” rating on the stock in a research note on Thursday, February 8th. Wells Fargo & Company upped their price objective on shares of PayPal from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Susquehanna upped their price target on shares of PayPal from $61.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Finally, Oppenheimer reissued a “market perform” rating on shares of PayPal in a research note on Thursday, January 25th. Twenty-three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $70.72.

PayPal Stock Performance

Shares of PYPL stock opened at $65.96 on Monday. The company has a 50-day simple moving average of $62.87 and a 200 day simple moving average of $60.19. 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 company has a market capitalization of $69.43 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.23 and a beta of 1.45. PayPal has a 52 week low of $50.25 and a 52 week high of $76.54.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, topping the consensus estimate 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 period last year, the firm posted $1.01 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that PayPal will post 4.02 earnings per share for the current year.

Insider Activity at PayPal

In other PayPal news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now directly owns 23,430 shares in the company, valued at approximately $1,420,795.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On PayPal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caas Capital Management LP lifted its position in shares of PayPal by 8.3% during the first quarter. Caas Capital Management LP now owns 3,900 shares of the credit services provider’s stock worth $261,000 after acquiring an additional 300 shares in the last quarter. K.J. Harrison & Partners Inc bought a new position in PayPal in the 1st quarter worth about $2,011,000. Harrington Investments INC grew its holdings in shares of PayPal by 3.9% during the first quarter. Harrington Investments INC now owns 29,819 shares of the credit services provider’s stock worth $1,998,000 after purchasing an additional 1,132 shares in the last quarter. Renaissance Group LLC increased its stake in PayPal by 17.0% in the first quarter. Renaissance Group LLC now owns 440,774 shares of the credit services provider’s stock valued at $29,526,000 after acquiring an additional 64,172 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in shares of PayPal by 1.1% in the 1st quarter. Yousif Capital Management LLC now owns 148,918 shares of the credit services provider’s stock worth $9,976,000 after acquiring an additional 1,560 shares during the last quarter. 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.