PayPal (NASDAQ:PYPL) Price Target Raised to $75.00

PayPal (NASDAQ:PYPL) had its price objective upped by Wells Fargo & Company from $70.00 to $75.00 in a research report released on Thursday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the credit services provider’s stock.

Other analysts have also issued reports about the stock. BMO Capital Markets lifted their price target on shares of PayPal from $72.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Susquehanna boosted their target price on shares of PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised their price target on PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI increased their target price on PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Sixteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.03.

PayPal Trading Up 1.4 %

NASDAQ:PYPL opened at $80.94 on Thursday. The stock has a market cap of $82.75 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 1.47 and a beta of 1.44. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average price is $74.16 and its 200-day moving average price is $66.62. PayPal has a 52 week low of $50.25 and a 52 week high of $82.00.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Pittenger & Anderson Inc. lifted its position in PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank bought a new stake in PayPal during the first quarter worth approximately $27,000. Family Firm Inc. purchased a new stake in PayPal during the second quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC lifted its stake in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares during the last quarter. Finally, Register Financial Advisors LLC purchased a new position in shares of PayPal in the 1st quarter worth approximately $30,000. 68.32% of the stock is currently owned by institutional investors.

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.