PayPal (NASDAQ:PYPL) Price Target Raised to $85.00

PayPal (NASDAQ:PYPL) had its price objective raised by UBS Group from $72.00 to $85.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the credit services provider’s stock.

PYPL has been the subject of a number of other research reports. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Macquarie lifted their target price on shares of PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday. Sanford C. Bernstein cut shares of PayPal from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $75.00 to $80.00 in a research report on Thursday, October 10th. Finally, Robert W. Baird boosted their price objective on shares of PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday. Seventeen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.29.

PayPal Stock Down 2.6 %

Shares of NASDAQ:PYPL opened at $77.25 on Wednesday. The company has a market cap of $77.45 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.40 and a beta of 1.44. The firm’s 50-day simple moving average is $76.50 and its 200-day simple moving average is $67.66. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal has a fifty-two week low of $52.55 and a fifty-two week high of $83.70.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the business earned $0.97 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts predict that PayPal will post 4.54 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. increased its position in PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after buying an additional 172 shares during the period. Financial Management Professionals Inc. increased its position 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 worth $34,000 after purchasing an additional 243 shares during the period. CarsonAllaria Wealth Management Ltd. increased its position in shares of PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 185 shares during the period. Family Firm Inc. bought a new position in shares of PayPal in the second quarter worth $29,000. Finally, 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 worth $29,000 after purchasing an additional 167 shares during the period. Institutional investors own 68.32% of the company’s stock.

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.