Piper Sandler Issues Positive Forecast for PayPal (NASDAQ:PYPL) Stock Price

PayPal (NASDAQ:PYPL) had its target price hoisted by Piper Sandler from $88.00 to $93.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the credit services provider’s stock.

PYPL has been the subject of a number of other research reports. UBS Group lifted their target price on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Macquarie lifted their price objective on PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Mizuho increased their target price on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup boosted their target price on PayPal from $94.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley increased their price target on shares of PayPal from $76.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.48.

PayPal Stock Down 0.7 %

NASDAQ PYPL opened at $89.11 on Friday. The stock 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 has a 52 week low of $55.77 and a 52 week high of $93.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a fifty day moving average of $87.76 and a 200-day moving average of $77.92.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The firm 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 quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 EPS. On average, equities research analysts forecast that PayPal will post 4.58 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. boosted its position in PayPal by 35.4% during the second quarter. Sei Investments Co. now owns 147,259 shares of the credit services provider’s stock valued at $8,545,000 after purchasing an additional 38,488 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of PayPal by 49.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 46,228 shares of the credit services provider’s stock valued at $2,683,000 after buying an additional 15,316 shares during the last quarter. AXA S.A. grew its stake in shares of PayPal by 1.8% in the second quarter. AXA S.A. now owns 274,410 shares of the credit services provider’s stock valued at $15,924,000 after buying an additional 4,809 shares in the last quarter. AQR Capital Management LLC increased its holdings in PayPal by 6.6% during the second quarter. AQR Capital Management LLC now owns 1,747,674 shares of the credit services provider’s stock worth $101,418,000 after buying an additional 108,066 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in PayPal by 165.2% during the second quarter. APG Asset Management N.V. now owns 123,808 shares of the credit services provider’s stock worth $6,704,000 after acquiring an additional 77,124 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Company Profile

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.