PayPal's (PYPL) "Buy" Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of PayPal (NASDAQ:PYPL - Free Report) in a research note published on Wednesday morning, Marketbeat Ratings reports. Canaccord Genuity Group currently has a $96.00 price target on the credit services provider's stock.

Several other research analysts have also weighed in on PYPL. Seaport Res Ptn lowered PayPal from a "hold" rating to a "strong sell" rating in a report on Thursday, April 17th. JPMorgan Chase & Co. reiterated an "overweight" rating on shares of PayPal in a research report on Tuesday, February 4th. Bank of America dropped their target price on shares of PayPal from $103.00 to $93.00 and set a "buy" rating on the stock in a report on Monday, April 14th. DZ Bank upgraded shares of PayPal from a "hold" rating to a "buy" rating and set a $92.00 price target for the company in a report on Friday, February 28th. Finally, BTIG Research restated a "neutral" rating on shares of PayPal in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $83.72.

PayPal Price Performance

Shares of NASDAQ:PYPL traded down $0.43 during midday trading on Wednesday, reaching $65.41. The company's stock had a trading volume of 10,042,668 shares, compared to its average volume of 11,293,360. The business's fifty day simple moving average is $65.89 and its 200-day simple moving average is $78.20. The company has a market capitalization of $63.93 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. PayPal has a fifty-two week low of $55.85 and a fifty-two week high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.17. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm had revenue of $7.79 billion during the quarter, compared to analysts' expectations of $7.84 billion. During the same period in the previous year, the business posted $1.08 EPS. The company's quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts expect that PayPal will post 5.03 EPS for the current fiscal year.

Insider Activity at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PayPal

Hedge funds have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC lifted its holdings in shares of PayPal by 9.9% during the 3rd quarter. Anchor Investment Management LLC now owns 35,219 shares of the credit services provider's stock worth $2,748,000 after acquiring an additional 3,175 shares during the last quarter. Boyar Asset Management Inc. bought a new position in shares of PayPal during the third quarter valued at $208,000. World Investment Advisors LLC bought a new position in PayPal in the 3rd quarter valued at approximately $5,296,000. Sfmg LLC purchased a new stake in shares of PayPal during the 3rd quarter valued at about $234,000. Finally, Wilmington Savings Fund Society FSB increased its position in shares of PayPal by 196.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,221 shares of the credit services provider's stock valued at $798,000 after purchasing an additional 6,772 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.

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.