PayPal (NASDAQ:PYPL) Stock Rating Upgraded by Wolfe Research

Wolfe Research upgraded shares of PayPal (NASDAQ:PYPL) from a peer perform rating to an outperform rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. Wolfe Research currently has $107.00 price target on the credit services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group raised their target price on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. UBS Group upped their target price on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 target price on shares of PayPal in a report on Thursday. Finally, Monness Crespi & Hardt boosted their price objective on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.74.

PayPal Price Performance

PYPL stock opened at $91.02 on Friday. The company has a market cap of $91.25 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 1.66 and a beta of 1.44. PayPal has a 12-month low of $55.77 and a 12-month high of $93.66. The firm has a 50 day moving average of $83.87 and a 200-day moving average of $72.38. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last issued its 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. 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 company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 EPS. As a group, equities analysts expect that PayPal will post 4.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC raised its stake in PayPal by 7.4% during the third quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after buying an additional 124 shares during the last quarter. First United Bank & Trust grew its holdings in PayPal by 6.4% during the 3rd quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after acquiring an additional 145 shares during the period. Ritholtz Wealth Management raised its position in shares of PayPal by 3.3% in the 3rd quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after acquiring an additional 152 shares in the last quarter. Laraway Financial Advisors Inc lifted its stake in shares of PayPal by 3.8% in the 3rd quarter. Laraway Financial Advisors Inc now owns 4,228 shares of the credit services provider’s stock valued at $330,000 after purchasing an additional 154 shares during the period. Finally, SYSTM Wealth Solutions LLC lifted its stake in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares during the period. Institutional investors 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.