PayPal (NASDAQ:PYPL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

PayPal (NASDAQ:PYPL) had its target price upped by equities research analysts at JPMorgan Chase & Co. from $80.00 to $90.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 13.49% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 price objective on shares of PayPal in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their price target on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Sanford C. Bernstein lowered PayPal from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $68.00 to $72.00 in a research note on Friday, August 9th. Finally, BMO Capital Markets increased their target price on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday. Seventeen investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.03.

PayPal Stock Performance

NASDAQ:PYPL opened at $79.30 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.24 and a current ratio of 1.25. The firm’s 50-day moving average is $76.39 and its 200-day moving average is $67.56. PayPal has a 52-week low of $50.80 and a 52-week high of $83.70. The company has a market cap of $79.50 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.40 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (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 for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the previous year, the firm posted $0.97 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts anticipate that PayPal will post 4.54 earnings per share for the current year.

Institutional Trading of PayPal

A number of hedge funds have recently made changes to their positions in the business. J.P. Marvel Investment Advisors LLC bought a new stake in PayPal in the 3rd quarter valued at about $1,170,000. ARK Investment Management LLC grew its position in PayPal by 30.7% in the third quarter. ARK Investment Management LLC now owns 186,090 shares of the credit services provider’s stock valued at $14,521,000 after acquiring an additional 43,686 shares during the last quarter. Portside Wealth Group LLC increased its position in PayPal by 16.5% during the 3rd quarter. Portside Wealth Group LLC now owns 4,698 shares of the credit services provider’s stock worth $367,000 after purchasing an additional 664 shares in the last quarter. JB Capital LLC increased its holdings in shares of PayPal by 3.0% during the third quarter. JB Capital LLC now owns 42,155 shares of the credit services provider’s stock worth $3,289,000 after buying an additional 1,224 shares in the last quarter. Finally, Keudell Morrison Wealth Management bought a new position in PayPal in the third quarter valued at about $267,000. 68.32% of the stock is owned by institutional investors and hedge funds.

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.