PayPal (NASDAQ:PYPL) Price Target Raised to $68.00 at TD Cowen

PayPal (NASDAQ:PYPL) had its price target hoisted by TD Cowen from $58.00 to $68.00 in a research report released on Wednesday, Benzinga reports. TD Cowen currently has a hold rating on the credit services provider’s stock.

PYPL has been the topic of a number of other research reports. JPMorgan Chase & Co. dropped their price objective on PayPal from $75.00 to $70.00 and set an overweight rating on the stock in a research note on Thursday, February 8th. Wedbush reiterated an outperform rating and issued a $85.00 price target on shares of PayPal in a research note on Thursday, February 8th. Stephens boosted their price objective on shares of PayPal from $70.00 to $75.00 and gave the stock an equal weight rating in a research note on Wednesday. BMO Capital Markets raised their target price on shares of PayPal from $64.00 to $65.00 and gave the company a market perform rating in a research note on Wednesday. Finally, Canaccord Genuity Group reduced their price target on PayPal from $100.00 to $80.00 and set a buy rating for the company in a report on Thursday, February 8th. Twenty-five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, PayPal has a consensus rating of Hold and a consensus price target of $72.73.

PayPal Stock Performance

Shares of PYPL opened at $65.70 on Wednesday. The stock has a market capitalization of $68.73 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 1.22 and a beta of 1.41. PayPal has a 12 month low of $50.25 and a 12 month high of $76.54. The firm has a fifty day simple moving average of $63.56 and a 200 day simple moving average of $60.44. The company has a current ratio of 1.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. Research analysts forecast that PayPal will post 4.07 EPS for the current fiscal year.

Insider Activity

In other PayPal news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the transaction, 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

A number of institutional investors have recently added to or reduced their stakes in the stock. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of PayPal during the fourth quarter worth $25,000. Sutton Wealth Advisors Inc. increased its holdings in PayPal by 115.0% in the 3rd quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 237 shares in the last quarter. Pittenger & Anderson Inc. raised its position in PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank acquired a new stake in shares of PayPal during the first quarter valued at about $27,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of PayPal during the fourth quarter worth about $29,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.