PayPal (NASDAQ:PYPL) Upgraded by StockNews.com to Buy Rating

PayPal (NASDAQ:PYPL) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other equities analysts have also recently commented on PYPL. Monness Crespi & Hardt lifted their target price on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Mizuho increased their price objective on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Macquarie raised their target price on PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price objective on shares of PayPal in a research report on Thursday. Finally, Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Fifteen 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $86.74.

PayPal Trading Up 1.8 %

Shares of PYPL stock opened at $91.02 on Friday. The business has a 50-day moving average price of $83.64 and a two-hundred day moving average price of $72.03. PayPal has a 12-month low of $55.77 and a 12-month high of $93.66. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm has a market cap of $91.25 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44.

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

Institutional Trading of PayPal

Large investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC bought a new stake in PayPal in the 3rd quarter worth approximately $53,586,000. 1ST Source Bank boosted its stake in shares of PayPal by 2.5% in the 3rd quarter. 1ST Source Bank now owns 15,975 shares of the credit services provider’s stock worth $1,247,000 after buying an additional 391 shares during the last quarter. Copley Financial Group Inc. bought a new stake in shares of PayPal in the third quarter worth $249,000. Franklin Resources Inc. increased its position in PayPal by 120.3% during the third quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider’s stock valued at $125,461,000 after acquiring an additional 849,311 shares during the last quarter. Finally, Peapack Gladstone Financial Corp lifted its holdings in PayPal by 1.1% in the third quarter. Peapack Gladstone Financial Corp now owns 228,209 shares of the credit services provider’s stock valued at $17,807,000 after acquiring an additional 2,576 shares during the period. 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.