Barclays Increases Paypal (NASDAQ:PYPL) Price Target to $199.00

Paypal (NASDAQ:PYPL) had its target price boosted by Barclays from $169.00 to $199.00 in a research note issued to investors on Wednesday morning, The Fly reports. The brokerage currently has an overweight rating on the credit services provider’s stock.

Several other research analysts also recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Paypal from $142.00 to $159.00 and gave the stock a buy rating in a report on Thursday, May 28th. Morgan Stanley raised their price objective on shares of Paypal from $124.00 to $131.00 and gave the stock an overweight rating in a report on Tuesday, May 5th. Citigroup raised their price objective on shares of Paypal from $145.00 to $186.00 and gave the stock a buy rating in a report on Thursday, June 18th. They noted that the move was a valuation call. Deutsche Bank raised their price objective on shares of Paypal from $147.00 to $183.00 and gave the stock a buy rating in a report on Tuesday, June 2nd. Finally, BidaskClub raised shares of Paypal from a buy rating to a strong-buy rating in a report on Saturday, April 25th. Six analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. Paypal has an average rating of Buy and an average price target of $154.41.

Paypal stock opened at $170.87 on Wednesday. Paypal has a twelve month low of $82.07 and a twelve month high of $175.40. The firm has a 50 day moving average price of $154.04 and a 200-day moving average price of $121.19. The company has a market capitalization of $202.51 billion, a P/E ratio of 108.15, a P/E/G ratio of 4.84 and a beta of 1.18. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.50.

Paypal (NASDAQ:PYPL) last released its earnings results on Wednesday, May 6th. The credit services provider reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.08. Paypal had a net margin of 10.27% and a return on equity of 16.06%. The firm had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same period in the prior year, the firm earned $0.78 EPS. The company’s revenue was up 11.8% compared to the same quarter last year. Equities analysts expect that Paypal will post 2.39 EPS for the current fiscal year.

In other news, CEO Daniel H. Schulman sold 25,000 shares of Paypal stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $144.15, for a total transaction of $3,603,750.00. Following the sale, the chief executive officer now owns 569,603 shares of the company’s stock, valued at approximately $82,108,272.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 75,000 shares of company stock worth $10,562,250. Insiders own 0.12% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Watchman Group Inc. bought a new stake in shares of Paypal during the 4th quarter valued at about $3,002,000. Bluefin Trading LLC boosted its stake in Paypal by 182.8% during the fourth quarter. Bluefin Trading LLC now owns 45,248 shares of the credit services provider’s stock worth $4,895,000 after acquiring an additional 29,248 shares in the last quarter. Bowen Hanes & Co. Inc. boosted its stake in Paypal by 7.2% during the fourth quarter. Bowen Hanes & Co. Inc. now owns 324,978 shares of the credit services provider’s stock worth $35,153,000 after acquiring an additional 21,690 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Paypal by 3.1% during the fourth quarter. Baird Financial Group Inc. now owns 340,068 shares of the credit services provider’s stock worth $36,785,000 after acquiring an additional 10,329 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in Paypal by 66.4% during the first quarter. Mercer Global Advisors Inc. ADV now owns 26,688 shares of the credit services provider’s stock worth $2,555,000 after acquiring an additional 10,652 shares in the last quarter. 82.84% of the stock is currently owned by hedge funds and other institutional investors.

About Paypal

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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