PayPal (NASDAQ:PYPL) Trading 2.3% Higher on Analyst Upgrade

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price shot up 2.3% during trading on Monday after Monness Crespi & Hardt raised their price target on the stock from $95.00 to $110.00. Monness Crespi & Hardt currently has a buy rating on the stock. PayPal traded as high as $83.62 and last traded at $83.60. 3,412,046 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 13,475,505 shares. The stock had previously closed at $81.70.

A number of other equities analysts also recently commented on the stock. Stephens boosted their price objective on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. William Blair raised PayPal to a “hold” rating in a research report on Tuesday, July 30th. BMO Capital Markets raised their price objective on PayPal from $72.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. TD Cowen lifted their target price on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average target price of $78.77.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Pittenger & Anderson Inc. increased its stake in shares of PayPal by 77.5% in the 1st 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 in the last quarter. Family Firm Inc. acquired a new stake in PayPal in the second quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC increased its position in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares in the last quarter. Tortoise Investment Management LLC raised its stake in shares of PayPal by 930.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after buying an additional 465 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in shares of PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Up 2.3 %

The stock has a market cap of $87.44 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.51 and a beta of 1.44. The business’s 50 day moving average is $75.94 and its 200-day moving average is $67.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 earnings per share. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 4.44 EPS for the current fiscal 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.