PayPal (NASDAQ:PYPL) Price Target Raised to $83.00

PayPal (NASDAQ:PYPL) had its price target upped by analysts at Susquehanna from $71.00 to $83.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “positive” rating on the credit services provider’s stock. Susquehanna’s price target points to a potential upside of 27.69% from the stock’s current price.

Several other brokerages also recently commented on PYPL. TD Cowen lifted their target price on PayPal from $58.00 to $68.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Citigroup upped their target price on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a report on Monday, June 10th. Sanford C. Bernstein upgraded shares of PayPal from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $71.00 to $78.00 in a report on Wednesday. Evercore ISI upped their price objective on shares of PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $80.00 target price on shares of PayPal in a research note on Wednesday. Twenty analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.97.

PayPal Price Performance

PayPal stock opened at $65.00 on Wednesday. The stock has a fifty day moving average of $60.86 and a 200-day moving average of $62.16. The stock has a market capitalization of $67.99 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 0.96 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. PayPal has a 52 week low of $50.25 and a 52 week high of $76.54.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS. On average, sell-side analysts expect that PayPal will post 4.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the completion of the sale, the director now owns 13,976 shares in the company, valued at approximately $861,620.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Large investors have recently modified their holdings of the company. Argus Investors Counsel Inc. boosted its stake in PayPal by 14.0% during the fourth quarter. Argus Investors Counsel Inc. now owns 19,150 shares of the credit services provider’s stock valued at $1,176,000 after buying an additional 2,350 shares during the period. Independence Bank of Kentucky lifted its stake in PayPal by 1,194.4% in the fourth quarter. Independence Bank of Kentucky now owns 2,330 shares of the credit services provider’s stock worth $143,000 after purchasing an additional 2,150 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of PayPal in the fourth quarter worth about $202,000. Trust Point Inc. bought a new stake in shares of PayPal in the 4th quarter valued at about $349,000. Finally, Ballentine Partners LLC boosted its holdings in PayPal by 89.1% during the 4th quarter. Ballentine Partners LLC now owns 10,904 shares of the credit services provider’s stock valued at $670,000 after acquiring an additional 5,138 shares during the period. 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.