PayPal (NASDAQ:PYPL) Trading 0.8% Higher on Analyst Upgrade

PayPal Holdings, Inc. (NASDAQ:PYPL) shot up 0.8% during trading on Tuesday 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 $78.43 and last traded at $78.29. 2,662,525 shares were traded during mid-day trading, a decline of 81% from the average session volume of 14,058,761 shares. The stock had previously closed at $77.67.

A number of other research analysts also recently weighed in on the company. Evercore ISI upped their target price on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Barclays upped their price objective on shares of PayPal from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Mizuho reiterated an “outperform” rating and set a $90.00 target price on shares of PayPal in a report on Tuesday, August 20th. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $84.00 price target on shares of PayPal in a research note on Wednesday, July 31st. 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. According to data from MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and an average target price of $76.16.

Institutional Trading of PayPal

A number of hedge funds and other institutional investors have recently bought and sold shares of PYPL. Greater Midwest Financial Group LLC grew its position in shares of PayPal by 8.0% during the 2nd quarter. Greater Midwest Financial Group LLC now owns 18,020 shares of the credit services provider’s stock worth $1,046,000 after buying an additional 1,331 shares in the last quarter. Anchor Investment Management LLC grew its holdings in PayPal by 5.8% during the 2nd quarter. Anchor Investment Management LLC now owns 32,044 shares of the credit services provider’s stock worth $1,860,000 after acquiring an additional 1,756 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in PayPal during the 2nd quarter valued at about $17,707,000. Cim LLC increased its holdings in PayPal by 2.2% during the second quarter. Cim LLC now owns 98,432 shares of the credit services provider’s stock valued at $5,712,000 after buying an additional 2,152 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in PayPal in the second quarter valued at about $9,517,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

The firm has a market capitalization of $81.89 billion, a P/E ratio of 19.72, a P/E/G ratio of 1.01 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The stock’s fifty day simple moving average is $67.35 and its 200 day simple moving average is $64.60.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 EPS. On average, equities research analysts predict that PayPal Holdings, Inc. will post 4.42 EPS 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.