Monness Crespi & Hardt Forecasts Strong Price Appreciation for PayPal (NASDAQ:PYPL) Stock

PayPal (NASDAQ:PYPL) had its target price hoisted by Monness Crespi & Hardt from $95.00 to $110.00 in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the credit services provider’s stock.

PYPL has been the topic of a number of other research reports. William Blair raised PayPal to a “hold” rating in a research note on Tuesday, July 30th. Wells Fargo & Company increased their target price on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. BMO Capital Markets increased their target price on PayPal from $72.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. TD Cowen increased 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 PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Seventeen investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.03.

PayPal Trading Down 2.6 %

PayPal stock opened at $78.22 on Monday. The stock has a market cap of $81.82 billion, a P/E ratio of 19.70, a PEG ratio of 1.51 and a beta of 1.44. PayPal has a fifty-two week low of $50.80 and a fifty-two week high of $83.70. The firm’s fifty day moving average price is $76.24 and its 200-day moving average price is $67.48. 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 quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.12. The firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 earnings per share. Equities research analysts forecast that PayPal will post 4.44 earnings per share for the current fiscal year.

Institutional Trading of PayPal

Several large investors have recently added to or reduced their stakes in PYPL. Miracle Mile Advisors LLC boosted its holdings in PayPal by 38.1% in the first quarter. Miracle Mile Advisors LLC now owns 11,361 shares of the credit services provider’s stock valued at $761,000 after acquiring an additional 3,134 shares in the last quarter. Claro Advisors LLC lifted its position in PayPal by 19.3% during the first quarter. Claro Advisors LLC now owns 5,581 shares of the credit services provider’s stock valued at $374,000 after buying an additional 904 shares during the period. Allspring Global Investments Holdings LLC lifted its position in PayPal by 18.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock valued at $15,686,000 after buying an additional 36,994 shares during the period. Evolution Wealth Advisors LLC purchased a new position in PayPal during the first quarter valued at $201,000. Finally, Albion Financial Group UT lifted its position in PayPal by 7.8% during the first quarter. Albion Financial Group UT now owns 4,208 shares of the credit services provider’s stock valued at $282,000 after buying an additional 305 shares during the period. 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.