PayPal (NASDAQ:PYPL) Given New $88.00 Price Target at Royal Bank of Canada

PayPal (NASDAQ:PYPL - Get Free Report) had its price objective dropped by equities research analysts at Royal Bank of Canada from $104.00 to $88.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm presently has an "outperform" rating on the credit services provider's stock. Royal Bank of Canada's target price suggests a potential upside of 30.87% from the stock's previous close.

A number of other research firms have also recently weighed in on PYPL. Morgan Stanley increased their price objective on shares of PayPal from $79.00 to $80.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Arete Research set a $81.00 price target on PayPal in a report on Thursday, March 27th. Bank of America decreased their price objective on PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a report on Monday, April 14th. Barclays lowered their target price on PayPal from $110.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Citigroup reiterated an "outperform" rating on shares of PayPal in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PayPal presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.77.

PayPal Stock Up 2.8 %

PYPL traded up $1.83 during trading hours on Wednesday, reaching $67.24. 10,076,664 shares of the stock traded hands, compared to its average volume of 11,259,060. PayPal has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The company has a market cap of $65.39 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The firm's fifty day simple moving average is $65.75 and its two-hundred day simple moving average is $78.10.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, beating 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 business had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. During the same period in the prior year, the company posted $1.08 EPS. The business's revenue was up 1.2% compared to the same quarter last year. As a group, analysts forecast that PayPal will post 5.03 earnings per share for the current fiscal year.

Insider Transactions at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company's 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 transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.14% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PYPL. Park Place Capital Corp boosted its stake in PayPal by 6.6% in the 4th quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider's stock valued at $161,000 after buying an additional 116 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock worth $26,000 after purchasing an additional 125 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in PayPal by 33.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 502 shares of the credit services provider's stock valued at $43,000 after purchasing an additional 125 shares during the last quarter. Wynn Capital LLC lifted its holdings in PayPal by 1.1% during the 4th quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider's stock valued at $983,000 after purchasing an additional 130 shares during the last quarter. Finally, Avalon Trust Co boosted its position in PayPal by 7.0% in the fourth quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider's stock valued at $176,000 after buying an additional 135 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.

About PayPal

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.