JPMorgan Chase & Co. Raises PayPal (NASDAQ:PYPL) Price Target to $90.00

PayPal (NASDAQ:PYPL) had its target price raised by JPMorgan Chase & Co. from $80.00 to $90.00 in a research report sent to investors on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the credit services provider’s stock.

Several other analysts have also issued reports on PYPL. Sanford C. Bernstein lowered shares of PayPal from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $75.00 to $80.00 in a research report on Thursday, October 10th. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Barclays raised their price target on shares of PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Susquehanna raised their price target on shares of PayPal from $83.00 to $94.00 and gave the stock a “positive” rating in a research report on Wednesday. Finally, Robert W. Baird raised their price target on shares of PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday. Fifteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.83.

PayPal Stock Performance

Shares of PYPL opened at $77.25 on Wednesday. The company has a market capitalization of $77.45 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.41 and a beta of 1.43. PayPal has a one year low of $52.55 and a one year high of $83.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.24. The company’s fifty day moving average price is $76.50 and its 200 day moving average price is $67.69.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 EPS. As a group, analysts expect that PayPal will post 4.56 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently bought and sold shares of PYPL. Allspring Global Investments Holdings LLC raised its holdings in PayPal by 18.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock worth $15,686,000 after purchasing an additional 36,994 shares during the period. Norden Group LLC increased its position in shares of PayPal by 197.3% during the first quarter. Norden Group LLC now owns 82,620 shares of the credit services provider’s stock worth $5,535,000 after acquiring an additional 54,832 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of PayPal by 23.3% during the first quarter. First Trust Direct Indexing L.P. now owns 23,463 shares of the credit services provider’s stock worth $1,572,000 after acquiring an additional 4,434 shares in the last quarter. Van ECK Associates Corp increased its position in shares of PayPal by 33.8% during the first quarter. Van ECK Associates Corp now owns 77,308 shares of the credit services provider’s stock worth $5,179,000 after acquiring an additional 19,510 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in shares of PayPal by 14.2% during the first quarter. Private Advisor Group LLC now owns 168,866 shares of the credit services provider’s stock worth $11,312,000 after acquiring an additional 21,047 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.