Piper Sandler Boosts Paypal (NASDAQ:PYPL) Price Target to $228.00

Paypal (NASDAQ:PYPL) had its price objective boosted by Piper Sandler from $210.00 to $228.00 in a research report sent to investors on Thursday, The Fly reports. They currently have an overweight rating on the credit services provider’s stock.

A number of other research firms have also recently issued reports on PYPL. Citigroup upped their price objective on 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. Bank of America upped their price objective on Paypal from $194.00 to $215.00 and gave the stock a buy rating in a report on Monday, July 13th. Deutsche Bank upped their price objective on Paypal from $147.00 to $183.00 and gave the stock a buy rating in a report on Tuesday, June 2nd. Rosenblatt Securities upped their price objective on Paypal from $196.00 to $204.00 and gave the stock a buy rating in a report on Wednesday. Finally, Royal Bank of Canada upped their price objective on Paypal from $142.00 to $159.00 and gave the stock a buy rating in a report on Thursday, May 28th. Seven investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $190.13.

Paypal stock traded up $3.56 during midday trading on Thursday, hitting $196.07. 10,865,370 shares of the company’s stock were exchanged, compared to its average volume of 7,571,171. Paypal has a 52-week low of $82.07 and a 52-week high of $198.66. The stock has a 50-day moving average price of $172.13 and a two-hundred day moving average price of $133.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.38. The company has a market cap of $230.18 billion, a P/E ratio of 89.94, a PEG ratio of 5.52 and a beta of 1.19.

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

In other Paypal news, CEO Daniel H. Schulman sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $155.67, for a total transaction of $3,891,750.00. Following the transaction, the chief executive officer now owns 546,103 shares in the company, valued at approximately $85,011,854.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 75,000 shares of company stock worth $10,562,250 in the last quarter. Company insiders own 0.12% of the company’s stock.

Several hedge funds have recently bought and sold shares of PYPL. Wealth Quarterback LLC purchased a new stake in Paypal during the 4th quarter valued at $44,000. Macquarie Group Ltd. boosted its stake in Paypal by 26.8% during the 4th quarter. Macquarie Group Ltd. now owns 1,605,632 shares of the credit services provider’s stock valued at $173,682,000 after purchasing an additional 339,100 shares during the last quarter. Bath Savings Trust Co boosted its stake in Paypal by 3.9% during the 1st quarter. Bath Savings Trust Co now owns 3,493 shares of the credit services provider’s stock valued at $334,000 after purchasing an additional 130 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in Paypal by 391.7% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 531 shares of the credit services provider’s stock valued at $50,000 after purchasing an additional 423 shares during the last quarter. Finally, IMS Capital Management boosted its stake in Paypal by 1.2% during the 1st quarter. IMS Capital Management now owns 14,329 shares of the credit services provider’s stock valued at $1,372,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 82.75% of the company’s stock.

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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