PayPal’s (PYPL) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of PayPal (NASDAQ:PYPL) in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a $80.00 price objective on the credit services provider’s stock.

A number of other equities analysts have also recently weighed in on PYPL. Evercore ISI increased their price objective on shares of PayPal from $65.00 to $70.00 and gave the stock an in-line rating in a research report on Tuesday, June 25th. Royal Bank of Canada reaffirmed an outperform rating and issued a $84.00 price objective on shares of PayPal in a research note on Friday, June 28th. Susquehanna upgraded PayPal from a neutral rating to a positive rating and set a $71.00 target price for the company in a report on Tuesday, July 2nd. BMO Capital Markets boosted their price target on shares of PayPal from $64.00 to $65.00 and gave the stock a market perform rating in a research note on Wednesday, May 1st. Finally, StockNews.com lowered shares of PayPal from a buy rating to a hold rating in a research note on Monday, July 29th. Nineteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, PayPal has a consensus rating of Hold and a consensus target price of $74.94.

PayPal Trading Down 5.1 %

Shares of PayPal stock opened at $61.98 on Wednesday. The stock has a 50 day moving average of $61.01 and a 200 day moving average of $62.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.24. The firm has a market capitalization of $63.36 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 0.93 and a beta of 1.42. PayPal has a fifty-two week low of $50.25 and a fifty-two week high of $70.66.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $0.83 EPS. As a group, research analysts predict that PayPal will post 4.42 earnings per share for the current year.

Insider Activity at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the completion of 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 SEC, which can be accessed through this link. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Argus Investors Counsel Inc. boosted its position in shares of PayPal by 14.0% in the 4th quarter. Argus Investors Counsel Inc. now owns 19,150 shares of the credit services provider’s stock worth $1,176,000 after buying an additional 2,350 shares in the last quarter. Independence Bank of Kentucky grew its holdings in PayPal by 1,194.4% in the 4th quarter. Independence Bank of Kentucky now owns 2,330 shares of the credit services provider’s stock valued at $143,000 after buying an additional 2,150 shares during the period. DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in PayPal in the 4th quarter valued at about $202,000. Trust Point Inc. purchased a new stake in PayPal in the 4th quarter valued at about $349,000. Finally, Ballentine Partners LLC grew its holdings in PayPal by 89.1% in the 4th quarter. Ballentine Partners LLC now owns 10,904 shares of the credit services provider’s stock valued at $670,000 after buying an additional 5,138 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.