Truist Financial Issues Positive Forecast for PayPal (NASDAQ:PYPL) Stock Price

PayPal (NASDAQ:PYPL) had its target price raised by investment analysts at Truist Financial from $53.00 to $58.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the credit services provider’s stock. Truist Financial‘s target price would indicate a potential upside of 1.32% from the stock’s previous close.

PYPL has been the topic of several other research reports. Piper Sandler boosted their price objective on shares of PayPal from $42.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. William Blair reiterated a “market perform” rating on shares of PayPal in a report on Wednesday, July 15th. Susquehanna upped their price target on PayPal from $63.00 to $67.00 and gave the stock a “positive” rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods raised their price objective on PayPal from $55.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Citigroup lifted their price objective on PayPal from $48.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, thirty-two have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, PayPal currently has an average rating of “Hold” and a consensus target price of $56.42.

PayPal Stock Down 0.5%

PYPL stock traded down $0.28 during midday trading on Friday, hitting $57.25. The stock had a trading volume of 5,299,028 shares, compared to its average volume of 17,247,453. The business has a 50-day moving average of $55.81 and a two-hundred day moving average of $50.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $48.97 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. PayPal has a 52-week low of $38.46 and a 52-week high of $79.21.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 28th. The credit services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.28 by $0.10. PayPal had a return on equity of 24.39% and a net margin of 14.36%. The business had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.47 billion. During the same quarter last year, the firm posted $1.40 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities research analysts forecast that PayPal will post 5.38 earnings per share for the current fiscal year.

Insider Activity at PayPal

In other PayPal news, CAO Chris Natali sold 552 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $54.80, for a total transaction of $30,249.60. Following the sale, the chief accounting officer directly owned 2,400 shares in the company, valued at approximately $131,520. This trade represents a 18.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 3,379 shares of PayPal stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $55.72, for a total value of $188,277.88. Following the completion of the sale, the insider directly owned 30,983 shares of the company’s stock, valued at approximately $1,726,372.76. The trade was a 9.83% 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 sold 14,774 shares of company stock valued at $848,095 over the last 90 days. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On PayPal

Several large investors have recently bought and sold shares of PYPL. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in PayPal in the second quarter worth approximately $97,372,000. S&CO Inc. bought a new position in shares of PayPal during the 2nd quarter valued at $18,827,000. Swiss National Bank boosted its stake in shares of PayPal by 4.9% in the 1st quarter. Swiss National Bank now owns 2,608,600 shares of the credit services provider’s stock worth $117,987,000 after buying an additional 121,400 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of PayPal by 2.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,593,196 shares of the credit services provider’s stock worth $284,694,000 after buying an additional 128,426 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of PayPal in the 2nd quarter worth $975,563,000. 68.32% of the stock is currently owned by institutional investors.

About PayPal

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and businesses to send, receive, and manage money online and through mobile devices. Its services support online checkout, peer-to-peer payments, money transfers, payment processing, invoicing, and other commerce-related transactions.

The company’s portfolio includes the PayPal and Venmo brands, Braintree’s payment processing technology, and Xoom’s international money transfer service. PayPal also offers merchant tools, digital wallets, payment solutions, and consumer financing products through its platform and related services.

PayPal traces its origins to 1998 and became an independent publicly traded company after separating from eBay in 2015.