PayPal (NASDAQ:PYPL) Price Target Raised to $80.00

PayPal (NASDAQ:PYPL) had its target price increased by Morgan Stanley from $79.00 to $80.00 in a report released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the credit services provider’s stock.

A number of other brokerages have also recently commented on PYPL. Piper Sandler increased their price objective on shares of PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods raised their price objective on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. The Goldman Sachs Group lifted their price objective on PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price on the stock in a report on Friday, December 13th. Finally, Barclays boosted their price target on PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, PayPal has a consensus rating of “Moderate Buy” and a consensus target price of $90.03.

PayPal Trading Up 0.5 %

Shares of PayPal stock opened at $71.07 on Wednesday. The company has a 50-day moving average of $83.61 and a two-hundred day moving average of $80.94. PayPal has a 12-month low of $56.97 and a 12-month high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $70.30 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.27 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $1.48 EPS. On average, research analysts anticipate that PayPal will post 5.03 EPS for the current fiscal year.

Insider Activity at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the sale, the director now owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

Institutional Trading of PayPal

A number of institutional investors have recently added to or reduced their stakes in PYPL. Mpwm Advisory Solutions LLC purchased a new stake in shares of PayPal in the fourth quarter worth about $25,000. Gordian Capital Singapore Pte Ltd acquired a new position in PayPal during the 3rd quarter worth approximately $26,000. Rosenberg Matthew Hamilton lifted its position in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 125 shares in the last quarter. Hurley Capital LLC purchased a new position in PayPal in the 4th quarter worth approximately $27,000. Finally, Sugarloaf Wealth Management LLC grew its position in PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 272 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.