PayPal (NASDAQ:PYPL) Given New $76.00 Price Target at Morgan Stanley

PayPal (NASDAQ:PYPL) had its target price increased by stock analysts at Morgan Stanley from $71.00 to $76.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the credit services provider’s stock. Morgan Stanley’s target price points to a potential downside of 4.16% from the company’s current price.

Several other analysts have also recently weighed in on PYPL. Deutsche Bank Aktiengesellschaft raised their target price on shares of PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Mizuho increased their price objective on shares of PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Oppenheimer initiated coverage on shares of PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Stephens increased their target price on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their price target on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Seventeen investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $82.03.

PayPal Stock Performance

NASDAQ:PYPL opened at $79.30 on Wednesday. PayPal has a 52 week low of $50.80 and a 52 week high of $83.70. The company has a fifty day simple moving average of $76.39 and a two-hundred day simple moving average of $67.56. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a market cap of $79.50 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 1.40 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same period last year, the business posted $0.97 earnings per share. PayPal’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that PayPal will post 4.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PYPL. Pittenger & Anderson Inc. boosted 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 in the last quarter. Financial Management Professionals Inc. lifted its holdings in shares of PayPal by 125.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after buying an additional 243 shares during the period. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares in the last quarter. Family Firm Inc. acquired a new position in PayPal during the second quarter worth $29,000. Finally, SYSTM Wealth Solutions LLC raised its position in PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.