PayPal (NASDAQ:PYPL) Price Target Raised to $80.00

PayPal (NASDAQ:PYPL) had its target price lifted by stock analysts at Wells Fargo & Company from $75.00 to $80.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the credit services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 11.19% from the stock’s previous close.

PYPL has been the topic of a number of other research reports. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and increased their price objective for the company from $86.00 to $103.00 in a report on Monday, December 9th. BMO Capital Markets upped their target price on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their target price on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, Morgan Stanley upped their target price on PayPal from $76.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.32.

PayPal Stock Up 0.5 %

NASDAQ PYPL traded up $0.44 during trading hours on Thursday, hitting $90.08. 506,307 shares of the company were exchanged, compared to its average volume of 7,174,473. The company has a 50 day moving average of $86.91 and a two-hundred day moving average of $76.31. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal has a 52-week low of $55.77 and a 52-week high of $93.66. The firm has a market cap of $90.31 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.42 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the prior year, the business earned $0.97 EPS. PayPal’s revenue was up 6.0% on a year-over-year basis. Equities research analysts anticipate that PayPal will post 4.57 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

Hedge funds have recently made changes to their positions in the business. Mizuho Securities USA LLC boosted its holdings in PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after acquiring an additional 10,419,351 shares during the last quarter. FMR LLC boosted its holdings in PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after acquiring an additional 7,767,072 shares during the last quarter. World Investment Advisors LLC acquired a new position in PayPal in the third quarter valued at $387,435,000. Clearbridge Investments LLC lifted its stake in shares of PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of PayPal by 9,864.9% during the third quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock worth $87,336,000 after purchasing an additional 1,108,030 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Company Profile

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.