PayPal (NASDAQ:PYPL) Shares Up 2% on Analyst Upgrade

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price shot up 2% on Monday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $74.00 to $94.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. PayPal traded as high as $78.70 and last traded at $78.28. 3,803,005 shares were traded during trading, a decline of 73% from the average session volume of 14,071,654 shares. The stock had previously closed at $76.76.

A number of other analysts also recently issued reports on the company. Monness Crespi & Hardt raised their target price on PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $68.00 to $72.00 in a report on Friday, August 9th. Susquehanna raised their price target on shares of PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a report on Wednesday, July 31st. New Street Research initiated coverage on PayPal in a report on Friday, May 31st. They issued a “buy” rating and a $80.00 price objective on the stock. Finally, William Blair raised PayPal to a “hold” rating in a research note on Tuesday, July 30th. Seventeen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $76.16.

Institutional Investors Weigh In On PayPal

Institutional investors have recently added to or reduced their stakes in the business. Pittenger & Anderson Inc. grew its holdings in shares of PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank acquired a new stake in shares of PayPal in the 1st quarter valued at about $27,000. Family Firm Inc. purchased a new position in PayPal during the 2nd quarter worth approximately $29,000. SYSTM Wealth Solutions LLC increased its position in 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 buying an additional 167 shares during the period. Finally, Register Financial Advisors LLC purchased a new stake in PayPal in the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

The company’s 50-day simple moving average is $67.01 and its 200-day simple moving average is $64.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $81.88 billion, a PE ratio of 19.72, a P/E/G ratio of 1.01 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $7.89 billion during 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 revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.83 EPS. As a group, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

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.