Keefe, Bruyette & Woods Reaffirms Outperform Rating for PayPal (NASDAQ:PYPL)

Keefe, Bruyette & Woods reissued their outperform rating on shares of PayPal (NASDAQ:PYPL) in a research report released on Wednesday, Benzinga reports. The firm currently has a $78.00 price target on the credit services provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. TD Cowen boosted their price objective on shares of PayPal from $68.00 to $70.00 and gave the company a hold rating in a research report on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of PayPal from a neutral rating to an outperform rating and raised their target price for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. Mizuho reiterated an outperform rating and issued a $90.00 price target on shares of PayPal in a research report on Tuesday, August 20th. Daiwa America upgraded shares of PayPal from a moderate buy rating to a strong-buy rating in a research report on Friday, August 9th. Finally, Robert W. Baird upped their target price on shares of PayPal from $77.00 to $80.00 and gave the stock an outperform rating in a report on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $75.58.

PayPal Price Performance

Shares of PYPL opened at $76.76 on Wednesday. The firm has a fifty day simple moving average of $67.01 and a two-hundred day simple moving average of $64.38. The firm has a market cap of $78.47 billion, a PE ratio of 19.34, a P/E/G ratio of 1.01 and a beta of 1.43. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal has a 1-year low of $50.25 and a 1-year high of $78.25.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $7.89 billion for 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%. PayPal’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 earnings per share. On average, equities analysts anticipate that PayPal will post 4.42 EPS for the current year.

Institutional Trading of PayPal

Several institutional investors and hedge funds have recently made changes to their positions in PYPL. SYSTM Wealth Solutions LLC lifted its holdings in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares in the last quarter. Pittenger & Anderson Inc. increased its position in shares of PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the period. Verity Asset Management Inc. raised its stake in shares of PayPal by 1.9% during the first quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock valued at $650,000 after acquiring an additional 181 shares in the last quarter. Indiana Trust & Investment Management CO boosted its holdings in shares of PayPal by 18.6% in the first quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock valued at $79,000 after purchasing an additional 184 shares during the period. Finally, Checchi Capital Advisers LLC grew its stake in PayPal by 3.1% in the second quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock worth $358,000 after purchasing an additional 184 shares in the last quarter. 68.32% of the stock is currently owned by 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.