PayPal (NASDAQ:PYPL) Upgraded at Wolfe Research

Wolfe Research upgraded shares of PayPal (NASDAQ:PYPL) from a peer perform rating to an outperform rating in a research report released on Friday morning, Marketbeat.com reports. The brokerage currently has $107.00 price objective on the credit services provider’s stock.

Other analysts have also issued reports about the stock. Piper Sandler restated a “neutral” rating and issued a $88.00 price target on shares of PayPal in a research report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Oppenheimer initiated coverage on PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. Barclays boosted their target price on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, 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. Fifteen 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.74.

PayPal Stock Performance

PYPL opened at $91.02 on Friday. The stock has a market cap of $91.25 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal has a twelve month low of $55.77 and a twelve month high of $93.66. The business’s 50 day moving average is $83.87 and its 200-day moving average is $72.38.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PYPL. ORG Partners LLC grew its stake in shares of PayPal by 8,092.3% during the 2nd quarter. ORG Partners LLC now owns 1,065 shares of the credit services provider’s stock worth $62,000 after purchasing an additional 1,052 shares during the period. Swedbank AB raised its holdings in PayPal by 0.3% in the 2nd quarter. Swedbank AB now owns 633,223 shares of the credit services provider’s stock valued at $36,746,000 after buying an additional 1,825 shares during the period. Miracle Mile Advisors LLC raised its position in PayPal by 3.7% in the second quarter. Miracle Mile Advisors LLC now owns 11,787 shares of the credit services provider’s stock valued at $684,000 after purchasing an additional 426 shares during the period. Blue Trust Inc. boosted its holdings in PayPal by 21.2% during the 2nd quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock valued at $195,000 after acquiring an additional 588 shares during the period. Finally, Brookstone Capital Management increased its stake in PayPal by 107.9% during the 2nd quarter. Brookstone Capital Management now owns 11,241 shares of the credit services provider’s stock worth $688,000 after buying an additional 5,834 shares during the period. 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.