PayPal (NASDAQ:PYPL) Now Covered by Analysts at Truist Financial

Truist Financial initiated coverage on shares of PayPal (NASDAQ:PYPL - Free Report) in a research report released on Monday morning, Marketbeat reports. The brokerage issued a sell rating and a $68.00 price objective on the credit services provider's stock.

A number of other research analysts have also recently commented on PYPL. Keefe, Bruyette & Woods dropped their price target on PayPal from $104.00 to $85.00 and set an "outperform" rating for the company in a research note on Monday, March 31st. Piper Sandler dropped their target price on shares of PayPal from $76.00 to $70.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company decreased their price objective on shares of PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Royal Bank of Canada dropped their price objective on shares of PayPal from $104.00 to $88.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Arete Research set a $81.00 price target on shares of PayPal in a research note on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PayPal currently has an average rating of "Hold" and an average price target of $83.29.

PayPal Price Performance

Shares of NASDAQ PYPL traded up $0.40 during trading on Monday, hitting $71.33. 7,305,515 shares of the company were exchanged, compared to its average volume of 11,176,200. The firm's fifty day moving average price is $66.34 and its 200 day moving average price is $76.47. PayPal has a 1 year low of $55.85 and a 1 year high of $93.66. The company has a market cap of $69.37 billion, a price-to-earnings ratio of 17.79, 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.

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

Institutional Investors Weigh In On PayPal

A number of large investors have recently modified their holdings of PYPL. Brighton Jones LLC grew its stake in PayPal by 15.2% during the fourth quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock worth $596,000 after buying an additional 924 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of PayPal in the fourth quarter worth $248,000. Chicago Partners Investment Group LLC boosted its stake in shares of PayPal by 55.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,436 shares of the credit services provider's stock valued at $654,000 after purchasing an additional 2,638 shares in the last quarter. Independence Bank of Kentucky raised its holdings in PayPal by 27.8% during the 4th quarter. Independence Bank of Kentucky now owns 2,870 shares of the credit services provider's stock worth $245,000 after purchasing an additional 625 shares during the last quarter. Finally, Golden State Equity Partners grew its position in shares of PayPal by 728.5% in the 4th quarter. Golden State Equity Partners now owns 2,560 shares of the credit services provider's stock valued at $218,000 after purchasing an additional 2,251 shares during the period. 68.32% of the stock is owned by hedge funds and other 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.