PayPal (NASDAQ:PYPL) Trading Up 0.8% Following Analyst Upgrade

PayPal Holdings, Inc. (NASDAQ:PYPLGet Free Report) was up 0.8% during trading on Monday after Piper Sandler raised their price target on the stock from $88.00 to $93.00. Piper Sandler currently has a neutral rating on the stock. PayPal traded as high as $89.99 and last traded at $89.79. Approximately 1,755,599 shares changed hands during trading, a decline of 78% from the average daily volume of 8,055,302 shares. The stock had previously closed at $89.11.

A number of other research analysts also recently commented on the stock. Susquehanna increased their target price on shares of PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price objective on shares of PayPal in a report on Thursday, December 12th. Citigroup boosted their target price on PayPal from $94.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised their target price on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Fourteen 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 company. Based on data from MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average target price of $89.48.

Read Our Latest Research Report on PYPL

Hedge Funds Weigh In On PayPal

Several large investors have recently added to or reduced their stakes in the company. Mizuho Securities USA LLC raised its holdings in PayPal by 12,919.4% during 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 in the last quarter. FMR LLC grew its stake 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 purchasing an additional 7,767,072 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of PayPal in the third quarter valued at $387,435,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of PayPal by 174.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after acquiring an additional 2,689,162 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position 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 worth $493,907,000 after purchasing an additional 1,866,925 shares during the period. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Performance

The firm has a fifty day moving average price of $87.76 and a 200 day moving average price of $78.05. The firm has a market capitalization of $89.88 billion, a PE ratio of 21.38, a P/E/G ratio of 1.54 and a beta of 1.44. 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 (NASDAQ:PYPLGet Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts anticipate that PayPal Holdings, Inc. will post 4.58 earnings per share for the current fiscal year.

PayPal Company Profile

(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.

Further Reading

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