Equities researchers at Piper Sandler initiated coverage on shares of Paypal (NASDAQ:PYPL) in a research report issued on Monday, The Fly reports. The firm set an "overweight" rating on the credit services provider's stock.
A number of other research analysts also recently issued reports on the stock. Credit Suisse Group upped their target price on shares of Paypal from $140.00 to $190.00 and gave the company an "outperform" rating in a research report on Monday, June 22nd. Robert W. Baird upped their price target on Paypal from $153.00 to $175.00 in a research note on Tuesday, June 16th. BidaskClub raised Paypal from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 25th. SunTrust Banks upped their price target on Paypal from $110.00 to $140.00 and gave the company a "hold" rating in a research note on Thursday, May 7th. Finally, Moffett Nathanson reaffirmed a "buy" rating and issued a $170.00 price target on shares of Paypal in a research note on Thursday, May 28th. Six investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. The company has an average rating of "Buy" and a consensus price target of $157.11.
Paypal stock traded down $0.22 during trading hours on Monday, reaching $177.21. 5,943,600 shares of the company's stock traded hands, compared to its average volume of 9,205,196. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.39 and a current ratio of 1.39. Paypal has a fifty-two week low of $82.07 and a fifty-two week high of $181.24. The firm has a market capitalization of $208.04 billion, a price-to-earnings ratio of 112.16, a PEG ratio of 5.01 and a beta of 1.19. The firm's 50 day moving average is $158.04 and its 200-day moving average is $123.56.
Paypal (NASDAQ:PYPL) last released its earnings results on Wednesday, May 6th. The credit services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.08. Paypal had a net margin of 10.27% and a return on equity of 16.06%. The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same period in the prior year, the company posted $0.78 EPS. The company's revenue was up 11.8% compared to the same quarter last year. Analysts predict that Paypal will post 2.37 EPS for the current year.
In other news, CEO Daniel H. Schulman sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $122.67, for a total transaction of $3,066,750.00. Following the completion of the transaction, the chief executive officer now directly owns 594,803 shares of the company's stock, valued at approximately $72,964,484.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 75,000 shares of company stock valued at $10,562,250 over the last ninety days. Company insiders own 0.12% of the company's stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its holdings in shares of Paypal by 3.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 213,896 shares of the credit services provider's stock valued at $37,266,000 after buying an additional 6,569 shares during the last quarter. Courier Capital LLC lifted its holdings in Paypal by 35.4% during the 2nd quarter. Courier Capital LLC now owns 4,709 shares of the credit services provider's stock valued at $834,000 after purchasing an additional 1,232 shares during the last quarter. Ellevest Inc. lifted its holdings in Paypal by 49.0% during the 2nd quarter. Ellevest Inc. now owns 1,511 shares of the credit services provider's stock valued at $263,000 after purchasing an additional 497 shares during the last quarter. Windsor Group LTD acquired a new stake in Paypal during the 2nd quarter valued at $229,000. Finally, Bath Savings Trust Co lifted its holdings in Paypal by 12.2% during the 2nd quarter. Bath Savings Trust Co now owns 3,918 shares of the credit services provider's stock valued at $683,000 after purchasing an additional 425 shares during the last quarter. 82.84% of the stock is owned by institutional investors.
Paypal Company Profile
PayPal Holdings, Inc operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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