Wells Fargo & Co Raises Paypal (NASDAQ:PYPL) Price Target to $120.00

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Paypal (NASDAQ:PYPL) had its price target increased by analysts at Wells Fargo & Co from $105.00 to $120.00 in a research note issued to investors on Thursday, April 25th, The Fly reports. The brokerage currently has an “outperform” rating on the credit services provider’s stock. Wells Fargo & Co‘s target price points to a potential upside of 6.38% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Craig Hallum restated a “buy” rating and issued a $110.00 target price (up previously from $100.00) on shares of Paypal in a report on Thursday, January 31st. BidaskClub cut shares of Paypal from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 7th. BTIG Research upped their price objective on shares of Paypal to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, February 19th. Nomura increased their price target on shares of Paypal from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 28th. Finally, Bank of America reiterated a “buy” rating and issued a $116.00 price target (up previously from $102.00) on shares of Paypal in a report on Friday, March 15th. Ten investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $107.68.

Paypal stock opened at $112.80 on Thursday. Paypal has a 1 year low of $74.66 and a 1 year high of $114.66. The company has a market capitalization of $132.53 billion, a PE ratio of 57.26, a P/E/G ratio of 2.81 and a beta of 1.05.

Paypal (NASDAQ:PYPL) last announced its earnings results on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. Paypal had a net margin of 13.92% and a return on equity of 15.50%. The firm had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same period in the prior year, the firm earned $0.57 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Paypal will post 2.24 earnings per share for the current fiscal year.

In other Paypal news, CFO John D. Rainey sold 5,730 shares of Paypal stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $94.45, for a total transaction of $541,198.50. Following the transaction, the chief financial officer now directly owns 117,023 shares of the company’s stock, valued at $11,052,822.35. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Daniel H. Schulman sold 30,000 shares of Paypal stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $96.09, for a total transaction of $2,882,700.00. Following the transaction, the insider now directly owns 532,140 shares in the company, valued at $51,133,332.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 333,251 shares of company stock worth $34,252,211. 0.15% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of PYPL. Resources Investment Advisors Inc. boosted its holdings in Paypal by 9.3% in the first quarter. Resources Investment Advisors Inc. now owns 1,081 shares of the credit services provider’s stock worth $112,000 after purchasing an additional 92 shares during the period. Waldron Private Wealth LLC boosted its holdings in Paypal by 1.5% in the first quarter. Waldron Private Wealth LLC now owns 6,190 shares of the credit services provider’s stock worth $642,000 after purchasing an additional 93 shares during the period. Gagnon Securities LLC boosted its holdings in Paypal by 2.6% in the first quarter. Gagnon Securities LLC now owns 3,719 shares of the credit services provider’s stock worth $386,000 after purchasing an additional 96 shares during the period. Magnus Financial Group LLC boosted its holdings in Paypal by 2.0% in the first quarter. Magnus Financial Group LLC now owns 4,832 shares of the credit services provider’s stock worth $502,000 after purchasing an additional 97 shares during the period. Finally, Farmers Trust Co. boosted its holdings in Paypal by 2.1% in the first quarter. Farmers Trust Co. now owns 4,811 shares of the credit services provider’s stock worth $499,000 after purchasing an additional 100 shares during the period. Institutional investors own 81.68% of the company’s stock.

Paypal Company Profile

PayPal Holdings, Inc operates as a technology platform and digital payments 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 iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

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