StockNews.com Upgrades PayPal (NASDAQ:PYPL) to Buy

StockNews.com upgraded shares of PayPal (NASDAQ:PYPL) from a hold rating to a buy rating in a report published on Tuesday morning.

Several other research firms have also issued reports on PYPL. Canaccord Genuity Group lifted their target price on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Phillip Securities reaffirmed an “accumulate” rating and set a $90.00 price target (up previously from $80.00) on shares of PayPal in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Mizuho upped their target price on PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Keefe, Bruyette & Woods raised their price target on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and an average price target of $88.42.

PayPal Stock Up 1.6 %

Shares of NASDAQ PYPL opened at $88.25 on Tuesday. The stock has a 50 day moving average price of $84.78 and a 200 day moving average price of $73.40. The firm has a market capitalization of $88.47 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.66 and a beta of 1.44. PayPal has a 52-week low of $55.77 and a 52-week high of $93.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. Sell-side analysts expect that PayPal will post 4.57 earnings per share for the current year.

Hedge Funds Weigh In On PayPal

A number of hedge funds have recently made changes to their positions in the stock. Gordian Capital Singapore Pte Ltd purchased a new stake in PayPal during the 3rd quarter worth approximately $26,000. SYSTM Wealth Solutions LLC grew its holdings in shares of PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares during the last quarter. Tortoise Investment Management LLC grew its stake in 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 last quarter. Planning Capital Management Corp increased its holdings in shares of PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 268 shares during the period. Finally, Financial Management Professionals Inc. raised its holdings in shares of PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after buying an additional 243 shares during 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.