PayPal (NASDAQ:PYPL) Rating Reiterated by Royal Bank of Canada

PayPal (NASDAQ:PYPL)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a note issued to investors on Friday, Benzinga reports. They presently have a $84.00 price objective on the credit services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 44.75% from the company’s current price.

Other research analysts have also recently issued reports about the company. New Street Research started coverage on PayPal in a research report on Friday, May 31st. They issued a “buy” rating and a $80.00 target price for the company. Evercore ISI increased their price objective on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. The Goldman Sachs Group reiterated a “neutral” rating and set a $69.00 price objective on shares of PayPal in a research note on Monday, June 24th. UBS Group increased their price objective on PayPal from $63.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company increased their price objective on PayPal from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Twenty-one research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, PayPal currently has an average rating of “Hold” and an average price target of $73.64.

PayPal Stock Down 0.6 %

PYPL opened at $58.03 on Friday. The stock has a market capitalization of $60.70 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.95 and a beta of 1.43. PayPal has a 1-year low of $50.25 and a 1-year high of $76.54. The business has a 50 day moving average of $63.18 and a 200-day moving average of $62.43. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.14). The firm had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $0.86 earnings per share. As a group, sell-side analysts anticipate that PayPal will post 4.14 earnings per share for the current year.

Insider Activity

In other news, Director Deborah M. Messemer sold 4,422 shares of PayPal stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the transaction, the director now owns 13,976 shares in the company, valued at approximately $861,620.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PayPal

Several institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in PayPal in the 4th quarter valued at approximately $749,561,000. The Manufacturers Life Insurance Company lifted its stake in PayPal by 125.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after acquiring an additional 958,130 shares in the last quarter. Clearbridge Investments LLC lifted its stake in PayPal by 15.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after acquiring an additional 904,804 shares in the last quarter. Morgan Stanley increased its position in shares of PayPal by 4.5% during the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after purchasing an additional 873,181 shares during the last quarter. Finally, Boston Partners increased its position in shares of PayPal by 4,024.5% during the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock worth $48,099,000 after purchasing an additional 764,258 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

About PayPal

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.