BMO Capital Markets Boosts Paypal (PYPL) Price Target to $85.00

Paypal (NASDAQ:PYPL) had its price target upped by BMO Capital Markets from $80.00 to $85.00 in a research note released on Wednesday. The firm currently has an outperform rating on the credit services provider’s stock.

A number of other brokerages have also recently issued reports on PYPL. Credit Suisse Group reissued an outperform rating and set a $70.00 price objective (up previously from $63.00) on shares of Paypal in a report on Tuesday, October 10th. BTIG Research reissued a buy rating and set a $81.00 price objective on shares of Paypal in a report on Sunday, November 19th. Vetr raised Paypal from a hold rating to a buy rating and set a $80.21 price objective on the stock in a report on Wednesday, November 29th. Robert W. Baird increased their price objective on Paypal from $80.00 to $85.00 and gave the stock an outperform rating in a report on Thursday, November 16th. Finally, Bank of America increased their price objective on Paypal from $80.00 to $88.00 and gave the stock a buy rating in a report on Monday, November 20th. Ten investment analysts have rated the stock with a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $73.53.

Shares of Paypal (PYPL) traded up $1.39 on Wednesday, reaching $75.65. The company had a trading volume of 11,958,390 shares, compared to its average volume of 10,401,730. The stock has a market cap of $89,253.84, a PE ratio of 53.04, a price-to-earnings-growth ratio of 3.04 and a beta of 1.03. Paypal has a twelve month low of $39.02 and a twelve month high of $79.39.

Paypal (NASDAQ:PYPL) last issued its quarterly earnings data on Thursday, October 19th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Paypal had a return on equity of 11.33% and a net margin of 12.69%. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS. equities analysts forecast that Paypal will post 1.37 EPS for the current year.

In other news, Director Rodney C. Adkins acquired 6,750 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were bought at an average cost of $74.04 per share, with a total value of $499,770.00. Following the acquisition, the director now owns 10,149 shares in the company, valued at approximately $751,431.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers grew its position in Paypal by 0.9% during the 2nd quarter. Rhumbline Advisers now owns 1,850,531 shares of the credit services provider’s stock worth $99,318,000 after acquiring an additional 17,139 shares during the last quarter. Fundsmith LLP grew its position in Paypal by 6.8% during the 2nd quarter. Fundsmith LLP now owns 14,051,261 shares of the credit services provider’s stock worth $754,131,000 after acquiring an additional 889,976 shares during the last quarter. Shikiar Asset Management Inc. grew its position in Paypal by 2,671.9% during the 2nd quarter. Shikiar Asset Management Inc. now owns 141,365 shares of the credit services provider’s stock worth $7,587,000 after acquiring an additional 136,265 shares during the last quarter. Smith Asset Management Group LP bought a new position in Paypal during the 2nd quarter worth approximately $50,648,000. Finally, Mn Services Vermogensbeheer B.V. grew its position in Paypal by 0.7% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 188,272 shares of the credit services provider’s stock worth $12,055,000 after acquiring an additional 1,400 shares during the last quarter. 80.81% of the stock is currently owned by institutional investors.

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About Paypal

PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.

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