PayPal (NASDAQ:PYPL) Upgraded to Strong-Buy at Daiwa America

Daiwa America upgraded shares of PayPal (NASDAQ:PYPL) from a moderate buy rating to a strong-buy rating in a report issued on Friday morning, Zacks.com reports.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada reissued an outperform rating and set a $84.00 target price on shares of PayPal in a research note on Wednesday, July 31st. Citigroup increased their price target on shares of PayPal from $79.00 to $81.00 and gave the stock a buy rating in a research report on Monday, June 10th. UBS Group lifted their price objective on shares of PayPal from $71.00 to $72.00 and gave the company a neutral rating in a report on Wednesday, July 31st. New Street Research began coverage on shares of PayPal in a report on Friday, May 31st. They set a buy rating and a $80.00 target price on the stock. Finally, Barclays boosted their price target on shares of PayPal from $81.00 to $85.00 and gave the stock an overweight rating in a research note on Thursday, August 1st. Seventeen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $75.25.

PayPal Trading Down 1.9 %

NASDAQ PYPL opened at $63.46 on Friday. PayPal has a 12 month low of $50.25 and a 12 month high of $70.66. The stock has a market capitalization of $66.38 billion, a P/E ratio of 15.98, a PEG ratio of 0.89 and a beta of 1.42. The firm’s 50-day moving average is $61.11 and its two-hundred day moving average is $62.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. The firm had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 EPS. On average, sell-side analysts anticipate that PayPal will post 4.42 earnings per share for the current year.

Insider Transactions at PayPal

In related news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the transaction, the director now owns 13,976 shares in the company, valued at approximately $861,620.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

A number of hedge funds and other institutional investors have recently bought and sold shares of PYPL. SYSTM Wealth Solutions LLC boosted its holdings in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 167 shares in the last quarter. Pittenger & Anderson Inc. boosted its holdings in PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares in the last quarter. Verity Asset Management Inc. increased its position in PayPal by 1.9% during the 1st quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock worth $650,000 after purchasing an additional 181 shares during the period. Waldron Private Wealth LLC raised its stake in shares of PayPal by 1.9% during the 4th quarter. Waldron Private Wealth LLC now owns 9,619 shares of the credit services provider’s stock worth $590,000 after buying an additional 182 shares in the last quarter. Finally, Indiana Trust & Investment Management CO lifted its holdings in shares of PayPal by 18.6% in the 1st quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock valued at $79,000 after buying an additional 184 shares during the period. 68.32% of the stock is currently owned by hedge funds and other 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.