PayPal (NASDAQ:PYPL) Trading 0.8% Higher Following Analyst Upgrade

PayPal Holdings, Inc. (NASDAQ:PYPL) shares rose 0.8% during trading on Tuesday 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 $78.43 and last traded at $78.29. Approximately 2,662,525 shares traded hands during trading, a decline of 81% from the average daily volume of 14,058,761 shares. The stock had previously closed at $77.67.

A number of other research firms have also weighed in on PYPL. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $78.00 price target on shares of PayPal in a research report on Wednesday, September 18th. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $68.00 to $72.00 in a research note on Friday, August 9th. Evercore ISI boosted their price target on shares of PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Monness Crespi & Hardt lifted their price objective on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Mizuho restated an “outperform” rating and set a $90.00 price target on shares of PayPal in a research note on Tuesday, August 20th. Seventeen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.16.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SYSTM Wealth Solutions LLC boosted its holdings in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares in the last quarter. Pittenger & Anderson Inc. grew its position in PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 172 shares during the last quarter. Verity Asset Management Inc. raised its stake in shares of PayPal by 1.9% during the first quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock worth $650,000 after acquiring an additional 181 shares in the last quarter. Indiana Trust & Investment Management CO boosted its stake in shares of PayPal by 18.6% in the 1st quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock valued at $79,000 after purchasing an additional 184 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in shares of PayPal by 3.1% during the 2nd quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock valued at $358,000 after purchasing an additional 184 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

The business’s 50-day moving average is $67.35 and its 200 day moving average is $64.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $81.89 billion, a PE ratio of 19.72, a PEG ratio of 1.01 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. The company had revenue of $7.89 billion during 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 EPS. On average, equities research analysts predict that PayPal Holdings, Inc. will post 4.42 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.