StockNews.com Upgrades PayPal (NASDAQ:PYPL) to “Buy”

PayPal (NASDAQ:PYPL) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

A number of other analysts also recently weighed in on PYPL. Jefferies Financial Group reduced their target price on shares of PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group raised their price target on PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Sanford C. Bernstein cut shares of PayPal from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $75.00 to $80.00 in a research report on Thursday, October 10th. Fifteen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $82.83.

PayPal Price Performance

NASDAQ:PYPL opened at $77.25 on Friday. The company has a market capitalization of $77.45 billion, a P/E ratio of 18.44, a P/E/G ratio of 1.41 and a beta of 1.43. The business’s 50-day moving average is $76.50 and its 200 day moving average is $67.69. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.49. PayPal has a 12 month low of $52.55 and a 12 month high of $83.70.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the prior year, the company earned $0.97 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts forecast that PayPal will post 4.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PYPL. Covestor Ltd boosted its stake in PayPal by 15.4% in the third quarter. Covestor Ltd now owns 2,602 shares of the credit services provider’s stock valued at $203,000 after acquiring an additional 347 shares in the last quarter. Troy Asset Management Ltd boosted its position in shares of PayPal by 7.1% in the 3rd quarter. Troy Asset Management Ltd now owns 382,814 shares of the credit services provider’s stock worth $29,871,000 after purchasing an additional 25,380 shares in the last quarter. Atria Investments Inc grew its stake in PayPal by 17.1% during the 3rd quarter. Atria Investments Inc now owns 107,964 shares of the credit services provider’s stock worth $8,424,000 after buying an additional 15,741 shares during the last quarter. Demars Financial Group LLC increased its position in PayPal by 4.8% during the 3rd quarter. Demars Financial Group LLC now owns 6,764 shares of the credit services provider’s stock valued at $528,000 after buying an additional 309 shares in the last quarter. Finally, Beta Wealth Group Inc. increased its stake in PayPal by 4.1% during the 3rd quarter. Beta Wealth Group Inc. now owns 7,700 shares of the credit services provider’s stock valued at $601,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other 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.