PayPal (NASDAQ:PYPL) Given New $85.00 Price Target at Stephens

by · The Cerbat Gem

PayPal (NASDAQ:PYPL – Get Free Report) had its price objective boosted by equities researchers at Stephens from $75.00 to $85.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the credit services provider’s stock. Stephens’ target price would indicate a potential upside of 5.55% from the company’s current price.

Several other research firms have also recently issued reports on PYPL. TD Cowen raised their price target on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price objective on shares of PayPal in a research note on Wednesday, July 31st. StockNews.com cut shares of PayPal from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Sanford C. Bernstein lowered shares of PayPal from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. Seventeen research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.84.

Check Out Our Latest Analysis on PYPL

PayPal Stock Up 0.9 %

NASDAQ:PYPL traded up $0.71 during mid-day trading on Friday, reaching $80.53. The stock had a trading volume of 3,717,362 shares, compared to its average volume of 13,649,076. The stock has a market cap of $82.33 billion, a P/E ratio of 19.50, a PEG ratio of 1.47 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. The business’s 50 day moving average is $73.83 and its 200 day moving average is $66.50. PayPal has a fifty-two week low of $50.25 and a fifty-two week high of $82.00.

PayPal (NASDAQ:PYPL – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. The company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. PayPal’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 earnings per share. As a group, sell-side analysts predict that PayPal will post 4.42 earnings per share for the current year.

Hedge Funds Weigh In On PayPal

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. lifted its holdings in PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after buying an additional 172 shares in the last quarter. American National Bank acquired a new stake in PayPal during the 1st quarter worth $27,000. Family Firm Inc. bought a new position in PayPal during the 2nd quarter worth about $29,000. SYSTM Wealth Solutions LLC increased its holdings in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares in the last quarter. Finally, Register Financial Advisors LLC bought a new position in PayPal during the 1st quarter worth about $30,000. 68.32% of the stock is currently owned by institutional investors.

About PayPal

(Get Free Report)

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.

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