PayPal (NASDAQ:PYPL) Given New $80.00 Price Target at Wells Fargo & Company

PayPal (NASDAQ:PYPL) had its target price upped by Wells Fargo & Company from $75.00 to $80.00 in a report issued on Thursday morning,Benzinga reports. They currently have an equal weight rating on the credit services provider’s stock.

A number of other brokerages also recently commented on PYPL. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and upped their target price for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Susquehanna raised their price objective on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on shares of PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Piper Sandler restated a “neutral” rating and issued a $88.00 price target on shares of PayPal in a report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods boosted their target price on PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PayPal presently has an average rating of “Moderate Buy” and a consensus price target of $89.32.

PayPal Trading Up 3.3 %

PYPL opened at $91.81 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock’s fifty day moving average is $87.40 and its two-hundred day moving average is $76.72. The company has a market capitalization of $92.04 billion, a P/E ratio of 21.91, a PEG ratio of 1.42 and a beta of 1.44. PayPal has a 52 week low of $55.77 and a 52 week high of $93.66.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. Analysts forecast that PayPal will post 4.57 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gordian Capital Singapore Pte Ltd purchased a new stake in PayPal in the 3rd quarter valued at about $26,000. Rosenberg Matthew Hamilton raised its stake in shares of PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 125 shares during the period. SYSTM Wealth Solutions LLC lifted its holdings in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its holdings in shares of PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 272 shares during the last quarter. Finally, Planning Capital Management Corp increased its holdings in PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares during 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.