PayPal (NASDAQ:PYPL) Given New $72.00 Price Target at UBS Group

PayPal (NASDAQ:PYPL) had its price objective increased by UBS Group from $71.00 to $72.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the credit services provider’s stock.

Several other brokerages have also issued reports on PYPL. Wells Fargo & Company increased their target price on shares of PayPal from $60.00 to $65.00 and gave the stock an equal weight rating in a research note on Wednesday, May 1st. Needham & Company LLC restated a hold rating on shares of PayPal in a report on Tuesday, April 30th. The Goldman Sachs Group restated a neutral rating and set a $69.00 price objective on shares of PayPal in a report on Monday, June 24th. Robert W. Baird upped their price objective on shares of PayPal from $70.00 to $77.00 and gave the stock an outperform rating in a report on Wednesday, May 1st. Finally, JMP Securities upped their price objective on shares of PayPal from $70.00 to $82.00 and gave the stock a market outperform rating in a report on Wednesday, May 1st. Nineteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $75.03.

PayPal Stock Up 2.8 %

Shares of NASDAQ PYPL opened at $65.78 on Wednesday. The firm has a market cap of $68.81 billion, a PE ratio of 16.57, a P/E/G ratio of 1.04 and a beta of 1.42. PayPal has a 12-month low of $50.25 and a 12-month high of $76.54. The company’s fifty day simple moving average is $60.93 and its 200 day simple moving average is $62.19. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.20. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. PayPal’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 earnings per share. As a group, sell-side analysts forecast that PayPal will post 4.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction dated 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 transaction, the director now owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

A number of large investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of PayPal in the fourth quarter valued at approximately $749,561,000. Charles Schwab Investment Management Inc. lifted its position in PayPal by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock valued at $428,449,000 after purchasing an additional 265,116 shares during the last quarter. Clearbridge Investments LLC grew its stake in PayPal by 15.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after buying an additional 904,804 shares in the last quarter. First Trust Advisors LP grew its stake in PayPal by 1.7% in the 4th quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock worth $225,283,000 after buying an additional 61,384 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in PayPal by 5.1% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock worth $176,789,000 after buying an additional 146,643 shares in 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.