PayPal (NASDAQ:PYPL) Price Target Raised to $80.00

PayPal (NASDAQ:PYPL) had its price target boosted by Wells Fargo & Company from $75.00 to $80.00 in a report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the credit services provider’s stock.

A number of other equities research analysts also recently issued reports on the company. Monness Crespi & Hardt boosted their price target on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Oppenheimer assumed coverage on shares of PayPal in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Morgan Stanley lifted their price target on shares of PayPal from $76.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Mizuho upped their price objective on PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.32.

PayPal Stock Performance

Shares of PYPL stock opened at $91.81 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average price of $87.40 and a 200-day moving average price of $76.72. PayPal has a 52 week low of $55.77 and a 52 week high of $93.66. The firm has a market capitalization of $92.04 billion, a PE ratio of 21.91, a P/E/G ratio of 1.42 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 EPS. As a group, equities research analysts expect that PayPal will post 4.57 earnings per share for the current year.

Hedge Funds Weigh In On PayPal

Large investors have recently modified their holdings of the stock. New Century Financial Group LLC purchased a new position in PayPal during the fourth quarter worth $274,000. FCG Investment Co boosted its stake in shares of PayPal by 8.6% during the 4th quarter. FCG Investment Co now owns 15,019 shares of the credit services provider’s stock worth $1,282,000 after purchasing an additional 1,190 shares during the period. Secure Asset Management LLC bought a new position in PayPal during the 4th quarter valued at about $257,000. Red Door Wealth Management LLC lifted its stake in PayPal by 6.4% in the fourth quarter. Red Door Wealth Management LLC now owns 48,089 shares of the credit services provider’s stock worth $4,104,000 after purchasing an additional 2,872 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its position in shares of PayPal by 5.6% during the fourth quarter. Avior Wealth Management LLC now owns 24,928 shares of the credit services provider’s stock valued at $2,128,000 after buying an additional 1,321 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.