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

PayPal (NASDAQ:PYPL) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Several other analysts also recently commented on PYPL. Monness Crespi & Hardt upped their price objective on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Mizuho upped their price target on shares of PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Robert W. Baird lifted their price objective on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Wolfe Research raised PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price on the stock in a report on Friday, December 13th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.42.

PayPal Stock Performance

Shares of PYPL stock opened at $86.90 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The business has a fifty day moving average of $84.65 and a 200 day moving average of $73.26. The firm has a market capitalization of $87.12 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. PayPal has a 1 year low of $55.77 and a 1 year high of $93.66.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion during 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 revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $0.97 earnings per share. As a group, research analysts expect that PayPal will post 4.57 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

A number of large investors have recently modified their holdings of PYPL. Principal Financial Group Inc. lifted its stake in shares of PayPal by 2.1% in the third quarter. Principal Financial Group Inc. now owns 1,182,316 shares of the credit services provider’s stock worth $92,256,000 after buying an additional 24,193 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in PayPal during the 3rd quarter valued at about $53,586,000. 1ST Source Bank raised its holdings in PayPal by 2.5% in the 3rd quarter. 1ST Source Bank now owns 15,975 shares of the credit services provider’s stock valued at $1,247,000 after acquiring an additional 391 shares during the last quarter. Copley Financial Group Inc. purchased a new position in PayPal in the 3rd quarter worth approximately $249,000. Finally, Franklin Resources Inc. boosted its holdings in shares of PayPal by 120.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider’s stock worth $125,461,000 after purchasing an additional 849,311 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.