Paypal (PYPL) Price Target Raised to $113.00 at Morgan Stanley

Paypal (NASDAQ:PYPL) had its price objective lifted by equities researchers at Morgan Stanley from $103.00 to $113.00 in a research report issued on Wednesday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the credit services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 4.92% from the stock’s previous close.

Several other brokerages have also recently commented on PYPL. Guggenheim cut shares of Paypal from a “buy” rating to a “neutral” rating and set a $90.82 target price for the company. in a research report on Wednesday, February 6th. Zacks Investment Research upgraded shares of Paypal from a “sell” rating to a “hold” rating in a research report on Monday, January 14th. BidaskClub lowered shares of Paypal from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 7th. BTIG Research lifted their price target on shares of Paypal to $114.00 and gave the company a “buy” rating in a report on Tuesday, February 19th. Finally, Barclays reaffirmed an “overweight” rating and set a $115.00 price target (up from $110.00) on shares of Paypal in a report on Monday, January 7th. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Paypal presently has a consensus rating of “Buy” and an average target price of $101.33.

Shares of NASDAQ:PYPL traded down $0.50 during midday trading on Wednesday, hitting $107.71. The stock had a trading volume of 1,619,056 shares, compared to its average volume of 6,377,297. The stock has a market capitalization of $126.83 billion, a PE ratio of 60.17, a PEG ratio of 2.83 and a beta of 1.03. Paypal has a fifty-two week low of $70.22 and a fifty-two week high of $109.00.

Paypal (NASDAQ:PYPL) last issued its earnings results on Wednesday, January 30th. The credit services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.23 billion. Paypal had a net margin of 13.31% and a return on equity of 14.67%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 EPS. On average, sell-side analysts forecast that Paypal will post 2.15 EPS for the current fiscal year.

In other news, insider Gary J. Marino sold 2,017 shares of the company’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $91.11, for a total value of $183,768.87. Following the sale, the insider now directly owns 42,317 shares of the company’s stock, valued at approximately $3,855,501.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel H. Schulman sold 30,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $96.09, for a total transaction of $2,882,700.00. Following the completion of the sale, the insider now directly owns 532,140 shares in the company, valued at $51,133,332.60. The disclosure for this sale can be found here. Insiders have sold a total of 280,295 shares of company stock worth $26,469,952 over the last three months. Insiders own 0.20% of the company’s stock.

Several large investors have recently bought and sold shares of PYPL. Oregon Public Employees Retirement Fund boosted its stake in shares of Paypal by 7,419.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 19,412,765 shares of the credit services provider’s stock valued at $231,000 after purchasing an additional 19,154,611 shares during the last quarter. Norges Bank acquired a new position in shares of Paypal during the 4th quarter valued at $906,735,000. Lunia Capital LP lifted its position in shares of Paypal by 5,015.1% during the 4th quarter. Lunia Capital LP now owns 4,152,952 shares of the credit services provider’s stock valued at $4,153,000 after acquiring an additional 4,071,762 shares during the period. Morgan Stanley lifted its position in shares of Paypal by 57.3% during the 3rd quarter. Morgan Stanley now owns 10,450,968 shares of the credit services provider’s stock valued at $918,012,000 after acquiring an additional 3,805,346 shares during the period. Finally, Vanguard Group Inc lifted its position in shares of Paypal by 3.7% during the 3rd quarter. Vanguard Group Inc now owns 86,484,524 shares of the credit services provider’s stock valued at $7,596,801,000 after acquiring an additional 3,056,620 shares during the period. 81.34% of the stock is currently owned by institutional investors.

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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