PayPal (NASDAQ:PYPL) Price Target Raised to $76.00

PayPal (NASDAQ:PYPL) had its target price hoisted by Morgan Stanley from $71.00 to $76.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the credit services provider’s stock.

Other research analysts have also issued research reports about the company. Monness Crespi & Hardt raised their price objective on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Barclays increased their price target on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, September 27th. UBS Group increased their price target on shares of PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Macquarie raised their price objective on shares of PayPal from $85.00 to $90.00 and gave the stock an “outperform” 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 research note on Monday, July 29th. Seventeen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.29.

PayPal Trading Down 2.6 %

NASDAQ:PYPL opened at $77.25 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.24. The firm has a market capitalization of $77.45 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.40 and a beta of 1.44. PayPal has a one year low of $52.55 and a one year high of $83.70. The business has a fifty day moving average price of $76.50 and a 200-day moving average price of $67.66.

PayPal (NASDAQ:PYPL) last issued its quarterly 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 $1.08 by $0.12. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the prior year, the business posted $0.97 EPS. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts forecast that PayPal will post 4.54 EPS for the current year.

Hedge Funds Weigh In On PayPal

A number of large investors have recently made changes to their positions in PYPL. Allspring Global Investments Holdings LLC increased its position in shares of PayPal by 18.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock worth $15,686,000 after purchasing an additional 36,994 shares in the last quarter. Norden Group LLC increased its position in shares of PayPal by 197.3% during the first quarter. Norden Group LLC now owns 82,620 shares of the credit services provider’s stock worth $5,535,000 after purchasing an additional 54,832 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of PayPal by 23.3% during the first quarter. First Trust Direct Indexing L.P. now owns 23,463 shares of the credit services provider’s stock worth $1,572,000 after purchasing an additional 4,434 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of PayPal by 33.8% during the first quarter. Van ECK Associates Corp now owns 77,308 shares of the credit services provider’s stock valued at $5,179,000 after buying an additional 19,510 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of PayPal by 14.2% during the first quarter. Private Advisor Group LLC now owns 168,866 shares of the credit services provider’s stock valued at $11,312,000 after buying an additional 21,047 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

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.