PayPal (NASDAQ:PYPL) Price Target Raised to $75.00 at Wells Fargo & Company

PayPal (NASDAQ:PYPL) had its price objective lifted by Wells Fargo & Company from $70.00 to $75.00 in a research report released on Thursday, Benzinga reports. The firm currently has an equal weight rating on the credit services provider’s stock.

Several other equities research analysts have also recently weighed in on PYPL. Evercore ISI increased their price target on PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Argus raised PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein cut PayPal from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $75.00 to $80.00 in a research note on Thursday, October 10th. Finally, Barclays raised their price objective on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Sixteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.03.

PayPal Price Performance

Shares of PYPL stock opened at $80.94 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a market cap of $84.67 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.47 and a beta of 1.44. PayPal has a twelve month low of $50.25 and a twelve month high of $82.00. The business has a fifty day simple moving average of $74.16 and a 200 day simple moving average of $66.63.

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

Institutional Trading of PayPal

Hedge funds have recently made changes to their positions in the company. Pittenger & Anderson Inc. raised its stake in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares during the period. American National Bank purchased a new position in shares of PayPal in the first quarter valued at $27,000. Register Financial Advisors LLC purchased a new position in shares of PayPal in the first quarter valued at $30,000. CarsonAllaria Wealth Management Ltd. grew its position in shares of PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 185 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in shares of PayPal in the second quarter valued at $29,000. 68.32% of the stock is currently owned by institutional investors.

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.