Paypal (NASDAQ:PYPL) Price Target Raised to $215.00 at JMP Securities

Paypal (NASDAQ:PYPL) had its price objective lifted by JMP Securities from $195.00 to $215.00 in a research note released on Thursday morning, The Fly reports. The brokerage currently has an outperform rating on the credit services provider’s stock.

A number of other brokerages have also weighed in on PYPL. Royal Bank of Canada boosted their price objective on shares of Paypal from $142.00 to $159.00 and gave the company a buy rating in a report on Thursday, May 28th. Morgan Stanley boosted their price objective on shares of Paypal from $131.00 to $206.00 and gave the company an overweight rating in a report on Wednesday, July 22nd. Goldman Sachs Group boosted their price objective on shares of Paypal from $170.00 to $205.00 and gave the company a conviction-buy rating in a report on Monday, July 20th. Rosenblatt Securities upped their price target on shares of Paypal from $196.00 to $204.00 and gave the company a buy rating in a report on Wednesday. Finally, KeyCorp upped their price target on shares of Paypal from $200.00 to $215.00 and gave the company an overweight rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Paypal presently has an average rating of Buy and a consensus target price of $190.13.

Shares of PYPL stock traded up $3.56 during trading hours on Thursday, reaching $196.07. 10,865,370 shares of the company’s stock were exchanged, compared to its average volume of 7,571,171. The stock’s 50 day moving average is $172.13 and its 200-day moving average is $133.02. The company has a market cap of $230.18 billion, a price-to-earnings ratio of 89.94, a P/E/G ratio of 5.52 and a beta of 1.19. The company has a current ratio of 1.38, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Paypal has a fifty-two week low of $82.07 and a fifty-two week high of $198.66.

Paypal (NASDAQ:PYPL) last issued its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.46. The business had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $4.99 billion. Paypal had a return on equity of 16.17% and a net margin of 13.44%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 earnings per share. Equities analysts anticipate that Paypal will post 2.38 EPS for the current year.

In other Paypal news, CEO Daniel H. Schulman sold 25,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $144.15, for a total value of $3,603,750.00. Following the completion of the sale, the chief executive officer now owns 569,603 shares in the company, valued at approximately $82,108,272.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 75,000 shares of company stock valued at $10,562,250. 0.12% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of PYPL. Capital Research Global Investors grew its stake in shares of Paypal by 154.8% in the 1st quarter. Capital Research Global Investors now owns 14,602,398 shares of the credit services provider’s stock valued at $1,398,034,000 after buying an additional 8,872,484 shares during the period. Fisher Asset Management LLC grew its stake in shares of Paypal by 65.7% in the 1st quarter. Fisher Asset Management LLC now owns 7,003,347 shares of the credit services provider’s stock valued at $670,500,000 after buying an additional 2,775,699 shares during the period. Lone Pine Capital LLC boosted its position in shares of Paypal by 56.5% during the 1st quarter. Lone Pine Capital LLC now owns 5,265,480 shares of the credit services provider’s stock worth $504,117,000 after purchasing an additional 1,901,160 shares during the period. Carmignac Gestion boosted its position in shares of Paypal by 38,906.7% during the 1st quarter. Carmignac Gestion now owns 1,791,187 shares of the credit services provider’s stock worth $171,491,000 after purchasing an additional 1,786,595 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Paypal by 135.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,836,159 shares of the credit services provider’s stock worth $271,534,000 after purchasing an additional 1,633,162 shares during the period. 82.75% of the stock is owned by institutional investors and hedge funds.

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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