JMP Securities Boosts PayPal (NASDAQ:PYPL) Price Target to $70.00

PayPal (NASDAQ:PYPL) had its target price upped by analysts at JMP Securities from $68.00 to $70.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “market outperform” rating on the credit services provider’s stock. JMP Securities’ price target would indicate a potential upside of 10.65% from the company’s previous close.

PYPL has been the topic of a number of other research reports. Susquehanna upped their target price on shares of PayPal from $61.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Monness Crespi & Hardt cut their target price on shares of PayPal from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Stephens restated an “equal weight” rating and issued a $70.00 target price on shares of PayPal in a research note on Thursday, February 8th. Morgan Stanley reiterated an “equal weight” rating and set a $66.00 price objective (down previously from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. Finally, Citigroup dropped their price objective on shares of PayPal from $76.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.53.

PayPal Stock Down 0.3 %

PYPL stock traded down $0.17 during trading on Wednesday, reaching $63.26. The stock had a trading volume of 7,851,341 shares, compared to its average volume of 16,701,428. PayPal has a 1-year low of $50.25 and a 1-year high of $77.94. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $66.59 billion, a P/E ratio of 16.48, a PEG ratio of 1.44 and a beta of 1.45. The firm has a fifty day moving average price of $62.15 and a 200 day moving average price of $59.86.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 EPS. On average, equities analysts anticipate that PayPal will post 3.93 earnings per share for the current year.

Insider Activity

In other news, SVP Frank Keller sold 7,686 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the transaction, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PYPL. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in PayPal during the fourth quarter worth approximately $25,000. Sutton Wealth Advisors Inc. boosted its holdings in PayPal by 115.0% during the third quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock worth $26,000 after buying an additional 237 shares in the last quarter. PCA Investment Advisory Services Inc. bought a new stake in PayPal during the second quarter worth approximately $27,000. Main Street Group LTD bought a new stake in PayPal during the fourth quarter worth approximately $27,000. Finally, American National Bank bought a new stake in PayPal during the first quarter worth approximately $27,000. 68.32% of the stock is currently owned by institutional investors.

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.