Piper Sandler Forecasts Strong Price Appreciation for PayPal (NASDAQ:PYPL) Stock

PayPal (NASDAQ:PYPL) had its price objective raised by Piper Sandler from $88.00 to $93.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the credit services provider’s stock. Piper Sandler’s price target would indicate a potential upside of 4.37% from the stock’s previous close.

A number of other research firms also recently commented on PYPL. Robert W. Baird boosted their price objective on shares of PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Susquehanna lifted their price target on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research note on Monday, January 6th. Phillip Securities restated an “accumulate” rating and set a $90.00 target price (up previously from $80.00) on shares of PayPal in a research report on Friday, November 1st. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $86.00 to $103.00 in a research report on Monday, December 9th. Finally, Canaccord Genuity Group boosted their price target on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Fourteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.48.

PayPal Trading Down 0.7 %

Shares of PYPL stock opened at $89.11 on Friday. PayPal has a twelve month low of $55.77 and a twelve month high of $93.66. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $87.76 and its two-hundred day moving average is $77.79. The company has a market capitalization of $89.34 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 1.54 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $7.88 billion. During the same period in the previous year, the business posted $0.97 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. Equities analysts forecast that PayPal will post 4.58 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PYPL. FMR LLC raised its position in shares of PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after purchasing an additional 7,767,072 shares in the last quarter. Mizuho Securities USA LLC boosted its stake in PayPal by 12,919.4% during 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 acquiring an additional 10,419,351 shares during the last quarter. Legal & General Group Plc grew its holdings in PayPal by 3.3% during 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 acquiring an additional 276,287 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of PayPal by 28.1% in 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 during the last quarter. Finally, Primecap Management Co. CA raised its stake in shares of PayPal by 21.6% in 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 in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.