PayPal (NASDAQ:PYPL) PT Raised to $75.00 at Wells Fargo & Company

PayPal (NASDAQ:PYPL) had its price target lifted by equities research analysts at Wells Fargo & Company from $70.00 to $75.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the credit services provider’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 7.34% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group boosted their target price on shares of PayPal from $69.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. William Blair upgraded shares of PayPal to a “hold” rating in a research report on Tuesday, July 30th. Sanford C. Bernstein downgraded shares of PayPal from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $75.00 to $80.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their price target on PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. boosted their target price on PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Sixteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.03.

PayPal Trading Up 1.4 %

Shares of PayPal stock opened at $80.94 on Thursday. The firm has a market cap of $82.75 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 1.47 and a beta of 1.44. PayPal has a 52-week low of $50.25 and a 52-week high of $82.00. The company’s 50-day simple moving average is $74.16 and its 200-day simple moving average is $66.61. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.20. The company had revenue of $7.89 billion for 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%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. As a group, equities research analysts anticipate that PayPal will post 4.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PYPL. Pittenger & Anderson Inc. raised its stake in shares of 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 acquiring an additional 172 shares during the period. American National Bank acquired a new stake in PayPal in the 1st quarter valued at $27,000. Family Firm Inc. purchased a new position in PayPal in the second quarter valued at about $29,000. SYSTM Wealth Solutions LLC lifted its stake in shares of PayPal by 50.6% during the second 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 purchased a new stake in shares of PayPal in the first quarter worth about $30,000. 68.32% of the stock is 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.