PayPal (NASDAQ:PYPL) Price Target Raised to $90.00

PayPal (NASDAQ:PYPL) had its price objective raised by JPMorgan Chase & Co. from $80.00 to $90.00 in a research note published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the credit services provider’s stock.

PYPL has been the subject of a number of other research reports. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Monness Crespi & Hardt lifted their target price on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group upped their price target on shares of PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday. William Blair raised PayPal to a “hold” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company upped their target price on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Seventeen analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.03.

PayPal Trading Down 2.6 %

PYPL opened at $78.22 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. PayPal has a fifty-two week low of $50.80 and a fifty-two week high of $83.70. The company’s 50 day moving average price is $76.24 and its two-hundred day moving average price is $67.48. The firm has a market capitalization of $81.82 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.51 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.12. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same period last year, the company earned $0.97 EPS. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, research analysts predict that PayPal will post 4.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA increased its position in shares of PayPal by 180.7% during the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after acquiring an additional 3,184,160 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of PayPal by 9,864.9% during the 3rd 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 during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of PayPal by 139.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,544,179 shares of the credit services provider’s stock worth $120,492,000 after buying an additional 899,476 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in PayPal by 31.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after buying an additional 687,940 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

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.