Brokerages Set PayPal Holdings, Inc. (NASDAQ:PYPL) Price Target at $88.32

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) have been assigned an average rating of “Moderate Buy” from the thirty-six ratings firms that are covering the firm, Marketbeat Ratings reports. Fifteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $88.32.

Several equities research analysts recently commented on PYPL shares. Citigroup reissued an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Wells Fargo & Company reiterated an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. Robert W. Baird reduced their price target on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Monness Crespi & Hardt lowered their price objective on PayPal from $120.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Macquarie increased their target price on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a report on Monday, February 10th.

Insider Activity

In other news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Several hedge funds have recently bought and sold shares of PYPL. Norges Bank acquired a new stake in shares of PayPal during the fourth quarter worth about $1,086,508,000. Capital Research Global Investors lifted its holdings in PayPal by 108.2% during the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock worth $1,529,823,000 after buying an additional 9,313,783 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in PayPal by 284.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock worth $666,100,000 after buying an additional 5,772,198 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in PayPal by 174.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after buying an additional 2,689,162 shares during the period. Finally, FMR LLC grew its stake in shares of PayPal by 12.9% in the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock worth $1,615,134,000 after acquiring an additional 2,161,582 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Trading Up 3.4 %

PYPL stock opened at $62.59 on Friday. PayPal has a 52-week low of $55.85 and a 52-week high of $93.66. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a market cap of $61.92 billion, a P/E ratio of 15.61, a PEG ratio of 1.27 and a beta of 1.60. The company’s 50-day simple moving average is $69.88 and its 200-day simple moving average is $79.76.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.48 earnings per share. As a group, equities analysts forecast that PayPal will post 5.03 EPS for the current fiscal year.

PayPal Company Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.