PayPal (NASDAQ:PYPL) Shares Up 0.8% After Analyst Upgrade

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) shot up 0.8% during mid-day trading on Monday after Piper Sandler raised their price target on the stock from $88.00 to $93.00. Piper Sandler currently has a neutral rating on the stock. PayPal traded as high as $89.99 and last traded at $89.79. 1,755,599 shares were traded during trading, a decline of 78% from the average session volume of 8,055,302 shares. The stock had previously closed at $89.11.

PYPL has been the subject of a number of other research reports. Wells Fargo & Company lifted their target price on shares of PayPal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and boosted their target price for the company from $86.00 to $103.00 in a research note on Monday, December 9th. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Macquarie boosted their price target on PayPal from $95.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group raised their price objective on PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Fourteen investment 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.48.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PYPL. Gordian Capital Singapore Pte Ltd bought a new position in PayPal during the 3rd quarter worth $26,000. Rosenberg Matthew Hamilton boosted its position in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 125 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its position in shares of PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. Planning Capital Management Corp boosted its position in shares of PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares during the period. Finally, Financial Management Professionals Inc. raised its holdings in shares of PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after acquiring an additional 243 shares during the period. Institutional investors own 68.32% of the company’s stock.

PayPal Trading Down 2.3 %

The company has a 50-day moving average price of $87.87 and a 200 day moving average price of $78.27. 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 $88.41 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 1.54 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. As a group, research analysts anticipate that PayPal Holdings, Inc. will post 4.58 earnings per share for the current fiscal year.

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.