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

PayPal (NASDAQ:PYPL) had its target price hoisted by investment analysts at Morgan Stanley from $76.00 to $90.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the credit services provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 0.95% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group increased their price target on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt increased their target price on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. Mizuho upped their price target 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. Finally, UBS Group raised their price objective on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and an average price target of $88.42.

PayPal Trading Down 0.5 %

Shares of NASDAQ:PYPL opened at $90.86 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. PayPal has a 1 year low of $55.77 and a 1 year high of $93.66. The company has a market cap of $91.09 billion, a P/E ratio of 21.68, a PEG ratio of 1.66 and a beta of 1.44. The stock’s fifty day moving average price is $84.29 and its 200-day moving average price is $72.78.

PayPal (NASDAQ:PYPL) last announced its quarterly 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 $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter last year, the firm posted $0.97 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts expect that PayPal will post 4.57 earnings per share for the current year.

Institutional Trading of PayPal

Hedge funds have recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares during the last quarter. Mizuho Securities USA LLC lifted its stake 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 worth $819,315,000 after purchasing an additional 10,419,351 shares during the last quarter. Legal & General Group Plc boosted its position in shares of PayPal by 3.3% during the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after buying an additional 276,287 shares during the period. Clearbridge Investments LLC grew 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 valued at $493,907,000 after buying an additional 1,866,925 shares during the last quarter. Finally, Primecap Management Co. CA raised its holdings in shares of PayPal by 21.6% in the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after buying an additional 1,069,356 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.