PayPal (NASDAQ:PYPL) PT Raised to $75.00

PayPal (NASDAQ:PYPL) had its price objective lifted by Wells Fargo & Company from $70.00 to $75.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the credit services provider’s stock.

A number of other analysts have also recently weighed in on the stock. UBS Group upped their target price on shares of PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Evercore ISI increased their target price on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Canaccord Genuity Group restated a “buy” rating and set a $80.00 target price on shares of PayPal in a research report on Wednesday, July 31st. Jefferies Financial Group lowered their price target on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Finally, Mizuho lifted their price objective on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday. Seventeen analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.52.

PayPal Trading Down 1.2 %

Shares of PYPL opened at $79.82 on Thursday. The stock’s 50-day moving average price is $73.83 and its 200 day moving average price is $66.50. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $83.50 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.49 and a beta of 1.44. PayPal has a 12-month low of $50.25 and a 12-month high of $82.00.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. PayPal’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 earnings per share. As a group, research analysts predict that PayPal will post 4.42 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Brown Financial Advisors bought a new stake in PayPal in the second quarter valued at about $1,454,000. Cape Cod Five Cents Savings Bank bought a new stake in shares of PayPal in the 2nd quarter valued at about $3,014,000. Distillate Capital Partners LLC raised its position in shares of PayPal by 156,934.7% in the 2nd quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock valued at $19,957,000 after acquiring an additional 343,687 shares during the period. Fiduciary Alliance LLC boosted its stake in PayPal by 604.7% during the 1st quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock worth $3,452,000 after acquiring an additional 45,544 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in PayPal by 44.6% during the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after purchasing an additional 381 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.