PayPal (NASDAQ:PYPL) Raised to “Outperform” at Wolfe Research

PayPal (NASDAQ:PYPL) was upgraded by stock analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm currently has a $107.00 price objective on the credit services provider’s stock. Wolfe Research’s target price suggests a potential upside of 17.56% from the stock’s previous close.

Several other equities analysts also recently commented on PYPL. Piper Sandler restated a “neutral” rating and issued a $88.00 price objective on shares of PayPal in a research report on Friday, November 22nd. Robert W. Baird upped their price target on PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Stephens lifted their price objective on shares of 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 restated a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised their target price on shares of PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.74.

PayPal Trading Up 1.8 %

Shares of NASDAQ:PYPL opened at $91.02 on Friday. The stock has a 50 day moving average of $83.87 and a 200 day moving average of $72.30. The company has a market cap of $91.25 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. PayPal has a 12-month low of $55.77 and a 12-month high of $93.66. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 earnings per share. As a group, equities research analysts expect that PayPal will post 4.57 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC purchased a new stake in PayPal during the 3rd quarter worth approximately $53,586,000. 1ST Source Bank boosted its stake in shares of PayPal by 2.5% in the third quarter. 1ST Source Bank now owns 15,975 shares of the credit services provider’s stock worth $1,247,000 after acquiring an additional 391 shares during the last quarter. Copley Financial Group Inc. purchased a new stake in shares of PayPal during the third quarter worth approximately $249,000. Franklin Resources Inc. raised its stake in PayPal by 120.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider’s stock valued at $125,461,000 after purchasing an additional 849,311 shares during the last quarter. Finally, Peapack Gladstone Financial Corp lifted its holdings in PayPal by 1.1% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 228,209 shares of the credit services provider’s stock valued at $17,807,000 after purchasing an additional 2,576 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.