PayPal (NASDAQ:PYPL) Price Target Raised to $82.00

PayPal (NASDAQ:PYPL) had its price objective increased by BMO Capital Markets from $73.00 to $82.00 in a research note published on Wednesday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the credit services provider’s stock.

PYPL has been the subject of a number of other reports. Sanford C. Bernstein cut PayPal from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $75.00 to $80.00 in a research report on Thursday, October 10th. Robert W. Baird boosted their price target on shares of PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group upped their price objective on shares of PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. William Blair upgraded shares of PayPal to a “hold” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Seventeen analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, PayPal currently has an average rating of “Moderate Buy” and a consensus price target of $82.03.

PayPal Stock Performance

PYPL opened at $78.22 on Wednesday. The firm has a fifty day moving average price of $76.24 and a 200 day moving average price of $67.48. PayPal has a 1 year low of $50.80 and a 1 year high of $83.70. The stock has a market cap of $81.82 billion, a P/E ratio of 19.70, a P/E/G ratio of 1.51 and a beta of 1.44. 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 (NASDAQ:PYPL) last posted 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 net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period in the prior year, the company posted $0.97 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts anticipate that PayPal will post 4.44 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

A number of institutional investors and hedge funds have recently made changes to their positions in PYPL. Pittenger & Anderson Inc. increased its holdings in PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of PayPal in the second quarter valued at $29,000. SYSTM Wealth Solutions LLC raised its holdings in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares during the period. Tortoise Investment Management LLC lifted its stake in PayPal by 930.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 465 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 185 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.