Piper Sandler Reaffirms “Neutral” Rating for PayPal (NASDAQ:PYPL)

PayPal (NASDAQ:PYPL)‘s stock had its “neutral” rating reiterated by research analysts at Piper Sandler in a research note issued to investors on Friday, Marketbeat Ratings reports. They presently have a $88.00 target price on the credit services provider’s stock. Piper Sandler’s price objective suggests a potential upside of 1.42% from the stock’s previous close.

Several other brokerages also recently weighed in on PYPL. Stephens boosted their target price on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Morgan Stanley increased their target price on shares of PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group reduced their price objective on shares of PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Wells Fargo & Company boosted their price target on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets increased their price objective on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Sixteen 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’s stock. According to MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Trading Up 2.3 %

PYPL opened at $86.77 on Friday. The firm has a market cap of $86.99 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.51 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average of $80.41 and a 200 day moving average of $69.68. PayPal has a 12 month low of $55.55 and a 12 month high of $87.92.

PayPal (NASDAQ:PYPL) last posted its quarterly 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. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter last year, the firm posted $0.97 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. As a group, research analysts forecast that PayPal will post 4.57 EPS for the current year.

Institutional Investors Weigh In On PayPal

Institutional investors have recently modified their holdings of the business. Gordian Capital Singapore Pte Ltd acquired a new position in PayPal in the 3rd quarter valued at $26,000. Planning Capital Management Corp raised its stake in PayPal by 186.1% in the third 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 in the last quarter. Financial Management Professionals Inc. raised its stake in PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 243 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in PayPal during the third quarter worth about $36,000. Finally, Family Firm Inc. acquired a new stake in PayPal during the second quarter worth about $29,000. Institutional investors own 68.32% of the company’s stock.

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.