PayPal (NASDAQ:PYPL) Price Target Raised to $41.00

PayPal (NASDAQ:PYPL) had its price target raised by research analysts at The Goldman Sachs Group from $40.00 to $41.00 in a report issued on Monday,MarketScreener reports. The firm currently has a “sell” rating on the credit services provider’s stock. The Goldman Sachs Group’s price objective points to a potential downside of 7.43% from the stock’s previous close.

Other analysts also recently issued reports about the company. Citigroup raised their price objective on PayPal from $42.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. BMO Capital Markets started coverage on PayPal in a report on Tuesday, April 21st. They set a “market perform” rating and a $52.00 price target for the company. Zacks Research upgraded PayPal from a “strong sell” rating to a “hold” rating in a research report on Friday, April 17th. UBS Group raised their target price on shares of PayPal from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $42.00 price target on shares of PayPal in a research report on Wednesday, May 20th. Eight investment analysts have rated the stock with a Buy rating, thirty-two have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.88.

PayPal Stock Performance

PayPal stock opened at $44.29 on Monday. The firm has a 50 day simple moving average of $45.12 and a 200-day simple moving average of $48.50. PayPal has a 1-year low of $38.46 and a 1-year high of $79.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market cap of $39.07 billion, a price-to-earnings ratio of 8.31, a price-to-earnings-growth ratio of 1.11 and a beta of 1.34.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.27 by $0.07. PayPal had a net margin of 15.00% and a return on equity of 25.02%. The firm had revenue of $8.35 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the company earned $1.33 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts expect that PayPal will post 5.3 EPS for the current year.

Insider Transactions at PayPal

In other news, insider Suzan Kereere sold 3,379 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $42.79, for a total value of $144,587.41. Following the completion of the transaction, the insider owned 30,983 shares in the company, valued at $1,325,762.57. This trade represents a 9.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 10,732 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $49.96, for a total transaction of $536,170.72. Following the completion of the sale, the insider owned 41,567 shares of the company’s stock, valued at $2,076,687.32. This trade represents a 20.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 20,612 shares of company stock valued at $966,623 in the last ninety days. 0.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PayPal

Institutional investors and hedge funds have recently modified their holdings of the company. Bard Associates Inc. acquired a new stake in PayPal in the fourth quarter valued at $25,000. Robinswood Financial LLC purchased a new stake in shares of PayPal during the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd raised its position in shares of PayPal by 15,233.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 460 shares of the credit services provider’s stock valued at $27,000 after buying an additional 457 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new position in shares of PayPal in the fourth quarter valued at approximately $28,000. Finally, Kelleher Financial Advisors purchased a new position in shares of PayPal during the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

About PayPal

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.

Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.