Paypal (NASDAQ:PYPL) Price Target Increased to $129.00 by Analysts at Morgan Stanley

Paypal (NASDAQ:PYPL) had its price objective boosted by Morgan Stanley from $114.00 to $129.00 in a research note released on Wednesday, The Fly reports. The brokerage currently has an overweight rating on the credit services provider’s stock.

Several other equities research analysts have also issued reports on the company. UBS Group set a $160.00 target price on IBM and gave the company a buy rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. set a $24.00 target price on Urovant Sciences and gave the company a buy rating in a research report on Friday, June 14th. KeyCorp raised their target price on Zynga from $5.00 to $6.00 and gave the company an overweight rating in a research report on Monday, April 29th. Craig Hallum reaffirmed a buy rating and set a $125.00 target price (up from $103.00) on shares of Lithia Motors in a research report on Thursday, April 25th. Finally, BidaskClub raised Kandi Technologies Group from a strong sell rating to a sell rating in a research report on Friday, May 17th. Ten analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Paypal presently has a consensus rating of Buy and an average target price of $111.18.

NASDAQ PYPL opened at $120.12 on Wednesday. The stock has a market cap of $141.13 billion, a price-to-earnings ratio of 67.11, a P/E/G ratio of 2.98 and a beta of 0.98. The company has a fifty day moving average of $114.43. Paypal has a 12 month low of $74.66 and a 12 month high of $121.00.

Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The business had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.13 billion. Paypal had a return on equity of 15.50% and a net margin of 13.92%. Paypal’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS. On average, sell-side analysts expect that Paypal will post 2.26 EPS for the current fiscal year.

In related news, EVP Jonathan Auerbach sold 8,730 shares of Paypal stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $113.80, for a total value of $993,474.00. Following the completion of the sale, the executive vice president now owns 120,470 shares of the company’s stock, valued at approximately $13,709,486. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John D. Rainey sold 13,925 shares of Paypal stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $108.73, for a total value of $1,514,065.25. Following the completion of the sale, the chief financial officer now directly owns 121,770 shares of the company’s stock, valued at approximately $13,240,052.10. The disclosure for this sale can be found here. In the last three months, insiders sold 180,714 shares of company stock valued at $19,911,348. 0.15% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PYPL. Semmax Financial Advisors Inc. boosted its stake in Paypal by 630.2% in the 1st quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock worth $33,000 after purchasing an additional 271 shares during the period. Private Ocean LLC boosted its position in shares of Paypal by 386.7% during the 1st quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock valued at $38,000 after acquiring an additional 290 shares during the last quarter. Liberty Wealth Management LLC bought a new stake in shares of Paypal during the 4th quarter valued at about $39,000. CX Institutional boosted its position in shares of Paypal by 605.7% during the 1st quarter. CX Institutional now owns 374 shares of the credit services provider’s stock valued at $39,000 after acquiring an additional 321 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Paypal during the 1st quarter valued at about $42,000. 80.87% 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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