PayPal (NASDAQ:PYPL) Shares Up 2% After Analyst Upgrade

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) were up 2% on Monday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $74.00 to $94.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. PayPal traded as high as $78.70 and last traded at $78.28. 3,803,005 shares were traded during trading, a decline of 73% from the average daily volume of 14,071,654 shares. The stock had previously closed at $76.76.

A number of other research analysts have also recently commented on PYPL. Robert W. Baird upped their price target on shares of PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. New Street Research assumed coverage on shares of PayPal in a research report on Friday, May 31st. They set a “buy” rating and a $80.00 target price on the stock. Jefferies Financial Group lowered their price target on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Wells Fargo & Company increased their price objective on PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, William Blair upgraded PayPal to a “hold” rating in a report on Tuesday, July 30th. Seventeen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.16.

Institutional Trading of PayPal

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Gryphon Financial Partners LLC grew its position in PayPal by 36.2% during the fourth quarter. Gryphon Financial Partners LLC now owns 9,659 shares of the credit services provider’s stock valued at $593,000 after buying an additional 2,569 shares during the period. Franklin Resources Inc. lifted its position in shares of PayPal by 198.4% during the 4th quarter. Franklin Resources Inc. now owns 429,954 shares of the credit services provider’s stock valued at $26,403,000 after buying an additional 285,847 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in PayPal in the 4th quarter valued at $294,000. Skopos Labs Inc. purchased a new stake in PayPal in the 4th quarter worth $274,000. Finally, Hsbc Holdings PLC raised its position in PayPal by 11.9% during the fourth quarter. Hsbc Holdings PLC now owns 2,891,840 shares of the credit services provider’s stock worth $177,541,000 after acquiring an additional 306,613 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Trading Up 2.0 %

The firm has a market capitalization of $81.88 billion, a PE ratio of 19.72, a P/E/G ratio of 1.01 and a beta of 1.43. The company’s fifty day simple moving average is $67.01 and its 200-day simple moving average is $64.46. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the previous year, the business earned $0.83 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share 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.