PayPal (NASDAQ:PYPL) Given New $80.00 Price Target at Wells Fargo & Company

PayPal (NASDAQ:PYPL) had its price objective raised by Wells Fargo & Company from $75.00 to $80.00 in a research note released on Thursday,Benzinga reports. They currently have an equal weight rating on the credit services provider’s stock.

PYPL has been the subject of several other reports. Barclays increased their price objective on PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Monness Crespi & Hardt lifted their price target on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Susquehanna lifted their target price on shares of PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research note on Monday, January 6th. Finally, Phillip Securities restated an “accumulate” rating and set a $90.00 price target (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Fourteen 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.32.

PayPal Trading Down 0.8 %

Shares of NASDAQ PYPL opened at $88.92 on Thursday. 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 one year low of $55.77 and a one year high of $93.66. The business has a 50-day moving average price of $87.08 and a two-hundred day moving average price of $76.40. The firm has a market capitalization of $89.15 billion, a PE ratio of 21.22, a PEG ratio of 1.42 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the company posted $0.97 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts predict that PayPal will post 4.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PayPal

A number of hedge funds have recently modified their holdings of the stock. FMR LLC grew its position in PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after acquiring an additional 7,767,072 shares during the period. Mizuho Securities USA LLC boosted its stake in shares of PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after purchasing an additional 10,419,351 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of PayPal by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after purchasing an additional 276,287 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. Finally, Primecap Management Co. CA lifted its holdings in PayPal by 21.6% during the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after purchasing an additional 1,069,356 shares during the last quarter. 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.