Paypal (NASDAQ:PYPL) Price Target Raised to $96.00 at Morgan Stanley

Paypal (NASDAQ:PYPL) had its price objective increased by research analysts at Morgan Stanley from $89.00 to $96.00 in a note issued to investors on Thursday, July 19th. The brokerage currently has a “$87.38” rating on the credit services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 10.33% from the company’s current price.

Several other brokerages also recently weighed in on PYPL. SunTrust Banks raised their target price on Paypal to $92.00 and gave the company a “$88.22” rating in a research note on Wednesday, July 18th. Stephens reaffirmed a “buy” rating and set a $91.00 price target on shares of Paypal in a research report on Friday, July 13th. Wolfe Research assumed coverage on shares of Paypal in a research report on Tuesday, July 17th. They set an “outperform” rating on the stock. Jefferies Financial Group started coverage on shares of Paypal in a research report on Tuesday, July 10th. They set a “buy” rating and a $98.00 price target on the stock. Finally, Atlantic Securities raised shares of Paypal from a “neutral” rating to an “overweight” rating and set a $43.00 target price on the stock in a report on Thursday, June 21st. Seven investment analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $88.56.

Shares of Paypal opened at $87.01 on Thursday, according to Marketbeat. The firm has a market capitalization of $102.67 billion, a P/E ratio of 62.60, a P/E/G ratio of 2.86 and a beta of 1.25. Paypal has a 12-month low of $57.58 and a 12-month high of $92.35.

Paypal (NASDAQ:PYPL) last announced its earnings results on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.17. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.81 billion. Paypal had a return on equity of 12.91% and a net margin of 14.02%. The company’s revenue was up 23.0% on a year-over-year basis. During the same period last year, the firm earned $0.46 earnings per share. equities analysts anticipate that Paypal will post 1.72 earnings per share for the current year.

In related news, VP Aaron Anderson sold 17,062 shares of the firm’s stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $88.22, for a total value of $1,505,209.64. Following the completion of the transaction, the vice president now owns 9,921 shares of the company’s stock, valued at approximately $875,230.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Aaron Karczmer sold 10,330 shares of the firm’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $88.22, for a total transaction of $911,312.60. Following the completion of the transaction, the executive vice president now directly owns 12,174 shares of the company’s stock, valued at approximately $1,073,990.28. The disclosure for this sale can be found here. Insiders sold a total of 166,510 shares of company stock valued at $14,083,194 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Glenview Trust Co acquired a new stake in shares of Paypal during the 2nd quarter valued at $209,000. KCM Investment Advisors LLC boosted its stake in shares of Paypal by 72.6% during the 2nd quarter. KCM Investment Advisors LLC now owns 4,695 shares of the credit services provider’s stock valued at $391,000 after buying an additional 1,975 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Paypal by 12.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 201,762 shares of the credit services provider’s stock valued at $16,798,000 after buying an additional 22,062 shares during the period. Chilton Investment Co. LLC acquired a new stake in shares of Paypal during the 2nd quarter valued at $57,709,000. Finally, Ontario Teachers Pension Plan Board boosted its stake in shares of Paypal by 47.0% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 21,631 shares of the credit services provider’s stock valued at $1,801,000 after buying an additional 6,914 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Paypal Company Profile

PayPal Holdings, Inc operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

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