Morgan Stanley Cuts PayPal (NASDAQ:PYPL) Price Target to $79.00

PayPal (NASDAQ:PYPL) had its price objective cut by stock analysts at Morgan Stanley from $90.00 to $79.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the credit services provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 1.65% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Piper Sandler lifted their price objective on shares of PayPal from $88.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Stephens upped their price target on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Wednesday. BMO Capital Markets raised their price target on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, UBS Group upped their price objective on shares of PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Fourteen equities 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.13.

PayPal Stock Performance

PYPL opened at $77.72 on Wednesday. The business has a fifty day simple moving average of $88.01 and a 200-day simple moving average of $79.39. The firm has a market cap of $77.92 billion, a PE ratio of 18.55, a P/E/G ratio of 1.49 and a beta of 1.44. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal has a fifty-two week low of $55.77 and a fifty-two week high of $93.66.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. The firm had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.48 EPS. As a group, equities analysts predict that PayPal will post 4.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Kovack Advisors Inc. lifted its holdings in shares of PayPal by 8.6% during the 4th quarter. Kovack Advisors Inc. now owns 8,157 shares of the credit services provider’s stock worth $696,000 after acquiring an additional 648 shares during the period. Mn Services Vermogensbeheer B.V. lifted its stake in PayPal by 2.9% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 406,199 shares of the credit services provider’s stock worth $34,669,000 after purchasing an additional 11,400 shares during the period. Allegiance Financial Group Advisory Services LLC acquired a new stake in PayPal during the fourth quarter valued at approximately $273,000. Stegent Equity Advisors Inc. grew its stake in shares of PayPal by 3.2% in the 4th quarter. Stegent Equity Advisors Inc. now owns 4,546 shares of the credit services provider’s stock valued at $388,000 after purchasing an additional 142 shares during the period. Finally, SRN Advisors LLC raised its holdings in shares of PayPal by 35.1% in the 4th quarter. SRN Advisors LLC now owns 15,782 shares of the credit services provider’s stock worth $1,347,000 after buying an additional 4,100 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.