PayPal (NASDAQ:PYPL) Stock Price Up 0.9% on Analyst Upgrade

PayPal Holdings, Inc. (NASDAQ:PYPL) was up 0.9% during mid-day trading on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $92.00 to $104.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. PayPal traded as high as $90.04 and last traded at $89.88. Approximately 6,955,544 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 8,477,434 shares. The stock had previously closed at $89.05.

A number of other research analysts also recently commented on the company. The Goldman Sachs Group increased their price target on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Morgan Stanley boosted their target price on shares of PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Monness Crespi & Hardt increased their target price on PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Sixteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.70.

Hedge Funds Weigh In On PayPal

Several large investors have recently modified their holdings of PYPL. World Investment Advisors LLC bought a new position in shares of PayPal during the third quarter worth approximately $387,435,000. United Advisor Group LLC bought a new position in PayPal during the third quarter worth about $810,000. FCG Investment Co acquired a new stake in PayPal in the 3rd quarter worth about $1,079,000. Equity Investment Corp increased its holdings in shares of PayPal by 3.5% during the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock worth $155,927,000 after purchasing an additional 67,497 shares during the period. Finally, Weil Company Inc. raised its position in shares of PayPal by 68.9% in the third quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after buying an additional 17,003 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

PayPal Stock Down 1.4 %

The stock has a 50-day moving average of $82.90 and a 200-day moving average of $71.58. The firm has a market cap of $88.99 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 1.64 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

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, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the firm posted $0.97 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

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.