Paypal (NASDAQ:PYPL) Given New $110.00 Price Target at Canaccord Genuity

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Paypal (NASDAQ:PYPL) had its price target raised by Canaccord Genuity from $105.00 to $110.00 in a report published on Thursday, BenzingaRatingsTable reports. Canaccord Genuity currently has a hold rating on the credit services provider’s stock.

A number of other equities analysts also recently commented on PYPL. Loop Capital cut their target price on shares of J B Hunt Transport Services to $133.00 and set a buy rating on the stock in a research note on Tuesday, April 16th. BidaskClub raised shares of Kandi Technologies Group from a strong sell rating to a sell rating in a research note on Friday, May 17th. Morgan Stanley raised their target price on shares of Williams-Sonoma from $52.00 to $56.00 and gave the company an underweight rating in a research note on Wednesday, July 10th. Bank of America set a $10.00 target price on shares of HEXO and gave the company a buy rating in a research note on Thursday, June 13th. Finally, SunTrust Banks reissued a hold rating and issued a $44.00 target price on shares of Shutterstock in a research note on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $116.41.

Shares of PYPL traded up $0.37 during mid-day trading on Thursday, reaching $115.49. The company had a trading volume of 7,030,951 shares, compared to its average volume of 4,764,627. The firm has a market capitalization of $135.60 billion, a PE ratio of 64.52, a price-to-earnings-growth ratio of 2.97 and a beta of 0.98. The company’s fifty day simple moving average is $116.91. Paypal has a fifty-two week low of $74.66 and a fifty-two week high of $121.48.

Paypal (NASDAQ:PYPL) last issued its earnings results on Wednesday, July 24th. The credit services provider reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.12. Paypal had a net margin of 15.36% and a return on equity of 17.40%. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter last year, the firm posted $0.58 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts expect that Paypal will post 2.28 earnings per share for the current fiscal year.

In other news, insider Daniel H. Schulman sold 30,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $111.09, for a total value of $3,332,700.00. Following the completion of the sale, the insider now owns 523,821 shares of the company’s stock, valued at approximately $58,191,274.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Auerbach sold 8,730 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $113.80, for a total transaction of $993,474.00. Following the completion of the sale, the executive vice president now directly owns 120,470 shares of the company’s stock, valued at approximately $13,709,486. The disclosure for this sale can be found here. Insiders sold a total of 110,250 shares of company stock valued at $12,245,960 in the last three months. Insiders own 0.15% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Semmax Financial Advisors Inc. boosted its holdings in shares of Paypal by 630.2% in the 1st quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock valued at $33,000 after buying an additional 271 shares during the period. Mcmillion Capital Management Inc. acquired a new position in shares of Paypal in the 2nd quarter valued at about $35,000. Private Ocean LLC boosted its holdings in shares of Paypal by 386.7% in the 1st quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock valued at $38,000 after buying an additional 290 shares during the period. Liberty Wealth Management LLC acquired a new position in shares of Paypal in the 4th quarter valued at about $39,000. Finally, CX Institutional boosted its holdings in shares of Paypal by 605.7% in the 1st quarter. CX Institutional now owns 374 shares of the credit services provider’s stock valued at $39,000 after buying an additional 321 shares during the period. 80.85% of the stock is owned by institutional investors.

About Paypal

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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