PayPal’s (PYPL) “Neutral” Rating Reiterated at Piper Sandler

Piper Sandler restated their neutral rating on shares of PayPal (NASDAQ:PYPL) in a report issued on Friday, Marketbeat reports. The firm currently has a $88.00 price target on the credit services provider’s stock.

A number of other research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price target on PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. BMO Capital Markets boosted their target price on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein cut shares of PayPal from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. TD Cowen boosted their price target on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $68.00 to $72.00 in a report on Friday, August 9th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PayPal currently has an average rating of “Moderate Buy” and a consensus price target of $83.60.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $86.77 on Friday. The stock’s 50-day moving average is $80.41 and its two-hundred day moving average is $69.72. The company has a market cap of $86.99 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43. PayPal has a 1-year low of $55.55 and a 1-year high of $87.92. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 EPS. Analysts forecast that PayPal will post 4.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. United Advisor Group LLC acquired a new position in PayPal during the 3rd quarter worth approximately $810,000. FCG Investment Co purchased a new position in shares of PayPal during the 3rd quarter valued at approximately $1,079,000. Equity Investment Corp grew its position in shares of PayPal by 3.5% during the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock worth $155,927,000 after buying an additional 67,497 shares in the last quarter. Weil Company Inc. boosted its stake in PayPal by 68.9% during the 3rd quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after acquiring an additional 17,003 shares during the last quarter. Finally, Brown Financial Advisors acquired a new stake in PayPal during the second quarter valued at approximately $1,454,000. 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.