BMO Capital Markets Raises PayPal (NASDAQ:PYPL) Price Target to $73.00

PayPal (NASDAQ:PYPL) had its price target upped by BMO Capital Markets from $72.00 to $73.00 in a research note published on Thursday, Benzinga reports. They currently have a market perform rating on the credit services provider’s stock.

A number of other research firms have also recently weighed in on PYPL. Daiwa Capital Markets upgraded PayPal from a neutral rating to an outperform rating and increased their price target for the stock from $68.00 to $72.00 in a report on Friday, August 9th. Macquarie lifted their price target on shares of PayPal from $85.00 to $90.00 and gave the company an outperform rating in a research report on Wednesday, July 31st. Daiwa America upgraded shares of PayPal from a moderate buy rating to a strong-buy rating in a report on Friday, August 9th. Royal Bank of Canada reiterated an outperform rating and issued a $84.00 target price on shares of PayPal in a report on Wednesday, July 31st. Finally, StockNews.com cut PayPal from a buy rating to a hold rating in a research note on Thursday, September 19th. Seventeen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $76.41.

PayPal Trading Up 2.7 %

Shares of PYPL stock opened at $79.36 on Thursday. PayPal has a twelve month low of $50.25 and a twelve month high of $80.63. The stock has a market cap of $83.01 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.11 and a beta of 1.44. The company’s 50-day moving average price is $70.69 and its 200-day moving average price is $65.60. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. The business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 EPS. As a group, equities analysts predict that PayPal will post 4.42 earnings per share for the current year.

Institutional Trading of PayPal

Hedge funds and other institutional investors have recently made changes to their positions in the company. J. W. Coons Advisors LLC increased its holdings in shares of PayPal by 8.0% in the 4th quarter. J. W. Coons Advisors LLC now owns 5,423 shares of the credit services provider’s stock valued at $333,000 after acquiring an additional 400 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in shares of PayPal by 828.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 158,079 shares of the credit services provider’s stock valued at $9,708,000 after buying an additional 141,052 shares during the last quarter. Exencial Wealth Advisors LLC raised its holdings in shares of PayPal by 69.2% in the fourth quarter. Exencial Wealth Advisors LLC now owns 9,663 shares of the credit services provider’s stock valued at $593,000 after buying an additional 3,951 shares during the last quarter. Stephens Inc. AR boosted its stake in shares of PayPal by 11.0% during the fourth quarter. Stephens Inc. AR now owns 70,128 shares of the credit services provider’s stock worth $4,307,000 after buying an additional 6,965 shares during the period. Finally, Morningstar Investment Services LLC acquired a new position in PayPal in the 4th quarter valued at about $261,000. 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.