PayPal (NASDAQ:PYPL) Given New $93.00 Price Target at Piper Sandler

PayPal (NASDAQ:PYPL) had its price target boosted by Piper Sandler from $88.00 to $93.00 in a research note released on Friday,Benzinga reports. Piper Sandler currently has a neutral rating on the credit services provider’s stock.

PYPL has been the topic of several other research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. Phillip Securities reissued an “accumulate” rating and issued a $90.00 target price (up from $80.00) on shares of PayPal in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price target on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective on the stock in a research report on Friday, December 13th. Finally, UBS Group upped their target price on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.48.

PayPal Price Performance

NASDAQ:PYPL opened at $89.11 on Friday. The stock has a market capitalization of $89.34 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 1.54 and a beta of 1.44. PayPal has a 52 week low of $55.77 and a 52 week high of $93.66. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock’s 50-day moving average price is $87.70 and its 200-day moving average price is $77.58.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the previous year, the business earned $0.97 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts expect that PayPal will post 4.58 EPS for the current fiscal year.

Institutional Trading of PayPal

Hedge funds have recently added to or reduced their stakes in the company. Park Place Capital Corp raised its holdings in shares of PayPal by 6.6% in the 4th quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider’s stock valued at $161,000 after purchasing an additional 116 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in PayPal by 7.4% in the third quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock valued at $141,000 after buying an additional 124 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after buying an additional 125 shares during the last quarter. Wynn Capital LLC boosted its position in shares of PayPal by 1.1% during the 4th quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock worth $983,000 after acquiring an additional 130 shares in the last quarter. Finally, Brave Asset Management Inc. raised its position in shares of PayPal by 5.2% during the 4th quarter. Brave Asset Management Inc. now owns 2,828 shares of the credit services provider’s stock worth $241,000 after acquiring an additional 141 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.