PayPal (NASDAQ:PYPL – Free Report) had its target price raised by Morgan Stanley from $76.00 to $90.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the credit services provider’s stock.
A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Susquehanna boosted their target price on PayPal from $83.00 to $94.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. Robert W. Baird raised their price target on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein downgraded PayPal from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. Finally, Macquarie increased their price objective on shares of PayPal from $95.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday. Fifteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.42.
Get Our Latest Stock Report on PYPL
PayPal Trading Up 0.4 %
PayPal (NASDAQ:PYPL – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the prior year, the business earned $0.97 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, research analysts anticipate that PayPal will post 4.57 EPS for the current year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of PYPL. Mizuho Securities USA LLC increased its position in PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after purchasing an additional 10,419,351 shares during the period. FMR LLC increased its position in shares of PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after buying an additional 7,767,072 shares during the period. World Investment Advisors LLC purchased a new position in shares of PayPal during the third quarter valued at about $387,435,000. Primecap Management Co. CA lifted its stake in shares of PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after purchasing an additional 3,184,160 shares during the period. Finally, Clearbridge Investments LLC boosted its position in shares of PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. Hedge funds and other institutional investors 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.
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