PayPal’s (PYPL) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of PayPal (NASDAQ:PYPL) in a research report released on Friday morning, Benzinga reports. They currently have a $84.00 price objective on the credit services provider’s stock.

A number of other equities analysts also recently issued reports on PYPL. Wells Fargo & Company upped their price target on PayPal from $60.00 to $65.00 and gave the company an equal weight rating in a report on Wednesday, May 1st. Keefe, Bruyette & Woods reiterated an outperform rating and issued a $78.00 price objective on shares of PayPal in a research note on Thursday, June 13th. TD Cowen boosted their price objective on PayPal from $58.00 to $68.00 and gave the company a hold rating in a research note on Wednesday, May 1st. The Goldman Sachs Group reiterated a neutral rating and issued a $69.00 price objective on shares of PayPal in a research note on Monday, June 24th. Finally, Stephens boosted their price objective on PayPal from $70.00 to $75.00 and gave the company an equal weight rating in a research note on Wednesday, May 1st. Twenty-one analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $73.64.

PayPal Stock Performance

Shares of PYPL opened at $58.03 on Friday. The stock has a 50 day moving average price of $63.18 and a 200 day moving average price of $62.40. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $60.70 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 0.95 and a beta of 1.43. PayPal has a 52-week low of $50.25 and a 52-week high of $76.54.

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

Insider Buying and Selling 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 stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the sale, the director now owns 13,976 shares of the company’s stock, valued at $861,620.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of PayPal

A number of large investors have recently made changes to their positions in the stock. Morgan Stanley boosted its stake in shares of PayPal by 4.5% during the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after acquiring an additional 873,181 shares during the last quarter. Norges Bank acquired a new stake in shares of PayPal during the fourth quarter valued at $749,561,000. Charles Schwab Investment Management Inc. boosted its stake in shares of PayPal by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock valued at $428,449,000 after acquiring an additional 265,116 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of PayPal by 15.8% during the first 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 during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of PayPal by 1.7% during the fourth quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock valued at $225,283,000 after acquiring an additional 61,384 shares during the last quarter. Institutional investors and hedge funds 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.