PayPal (NASDAQ:PYPL) Trading Up 3.2% Following Analyst Upgrade

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price traded up 3.2% on Friday after Wells Fargo & Company raised their price target on the stock from $75.00 to $80.00. Wells Fargo & Company currently has an equal weight rating on the stock. PayPal traded as high as $91.80 and last traded at $91.74. 5,090,735 shares were traded during trading, a decline of 31% from the average session volume of 7,412,152 shares. The stock had previously closed at $88.92.

Several other brokerages have also recently commented on PYPL. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $103.00 in a research report on Monday, December 9th. Piper Sandler reiterated a “neutral” rating and set a $88.00 target price on shares of PayPal in a report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft raised their price target on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Susquehanna upped their price objective on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research note on Monday, January 6th. Finally, BMO Capital Markets raised their target price on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Fourteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.32.

Institutional Trading of PayPal

A number of institutional investors have recently bought and sold shares of the business. New Century Financial Group LLC acquired a new stake in shares of PayPal in the fourth quarter valued at approximately $274,000. FCG Investment Co raised its holdings in PayPal by 8.6% in the 4th quarter. FCG Investment Co now owns 15,019 shares of the credit services provider’s stock valued at $1,282,000 after acquiring an additional 1,190 shares in the last quarter. Secure Asset Management LLC acquired a new position in PayPal in the 4th quarter valued at $257,000. Red Door Wealth Management LLC lifted its position in shares of PayPal by 6.4% during the 4th quarter. Red Door Wealth Management LLC now owns 48,089 shares of the credit services provider’s stock valued at $4,104,000 after acquiring an additional 2,872 shares during the period. Finally, Avior Wealth Management LLC increased its position in shares of PayPal by 5.6% in the fourth quarter. Avior Wealth Management LLC now owns 24,928 shares of the credit services provider’s stock worth $2,128,000 after purchasing an additional 1,321 shares during the period. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Up 3.3 %

The stock has a 50-day moving average of $87.23 and a 200 day moving average of $76.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $92.04 billion, a P/E ratio of 21.91, a PEG ratio of 1.42 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 EPS. Research analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

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.