PayPal (NASDAQ:PYPL) Trading Up 0.6% on Analyst Upgrade

PayPal Holdings, Inc. (NASDAQ:PYPL) traded up 0.6% on Thursday after Wells Fargo & Company raised their price target on the stock from $75.00 to $80.00. Wells Fargo & Company currently has an equal weight rating on the stock. PayPal traded as high as $90.37 and last traded at $90.16. 1,413,177 shares traded hands during trading, a decline of 81% from the average session volume of 7,271,020 shares. The stock had previously closed at $89.64.

Several other equities analysts also recently commented on PYPL. The Goldman Sachs Group upped their price objective on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Piper Sandler restated a “neutral” rating and issued a $88.00 price target on shares of PayPal in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on shares of PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt upped 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, October 28th. Finally, UBS Group upped their target price on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, PayPal has an average rating of “Moderate Buy” and a consensus price target of $89.32.

Institutional Trading of PayPal

Hedge funds and other institutional investors have recently modified their holdings of the stock. J.W. Cole Advisors Inc. increased its stake in PayPal by 36.2% during the second quarter. J.W. Cole Advisors Inc. now owns 6,357 shares of the credit services provider’s stock worth $369,000 after acquiring an additional 1,690 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of PayPal by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after purchasing an additional 409,322 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in shares of PayPal by 50.3% during the second quarter. Citizens Financial Group Inc. RI now owns 15,754 shares of the credit services provider’s stock valued at $914,000 after acquiring an additional 5,269 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of PayPal during the second quarter valued at about $1,645,000. Finally, Axxcess Wealth Management LLC increased its position in shares of PayPal by 50.8% during the second quarter. Axxcess Wealth Management LLC now owns 11,171 shares of the credit services provider’s stock valued at $648,000 after acquiring an additional 3,763 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Price Performance

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The company’s fifty day moving average is $86.91 and its two-hundred day moving average is $76.31. The stock has a market cap of $90.42 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 1.42 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share 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 during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the previous year, the business posted $0.97 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts predict that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

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.