JPMorgan Chase & Co. Boosts PayPal (NASDAQ:PYPL) Price Target to $90.00

PayPal (NASDAQ:PYPL) had its price target hoisted by stock analysts at JPMorgan Chase & Co. from $80.00 to $90.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 13.64% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Macquarie upped their price target on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. William Blair upgraded shares of PayPal to a “hold” rating in a report on Tuesday, July 30th. TD Cowen increased their target price on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group decreased their price objective on shares of PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Seventeen research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus target price of $81.07.

PayPal Price Performance

Shares of PYPL stock traded down $1.08 on Wednesday, reaching $79.20. 6,578,794 shares of the company were exchanged, compared to its average volume of 13,602,483. PayPal has a 1 year low of $50.80 and a 1 year high of $83.70. The business has a 50-day moving average price of $76.10 and a 200 day moving average price of $67.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $82.85 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 1.51 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the prior year, the business earned $0.97 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts forecast that PayPal will post 4.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PayPal

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. grew its holdings in PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of PayPal during the 2nd quarter worth approximately $29,000. SYSTM Wealth Solutions LLC lifted its holdings 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 worth $29,000 after purchasing an additional 167 shares during the last quarter. Tortoise Investment Management LLC lifted its holdings in shares of PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 465 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its position in PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 185 shares during the period. 68.32% of the stock is owned by hedge funds and other 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.