PayPal (NASDAQ:PYPL) Stock Rating Upgraded by Wolfe Research

PayPal (NASDAQ:PYPL) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued to investors on Friday, Marketbeat reports. The firm presently has a $107.00 price target on the credit services provider’s stock. Wolfe Research’s price target points to a potential upside of 17.56% from the company’s current price.

Several other analysts have also commented on PYPL. Oppenheimer assumed coverage on shares of PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. JPMorgan Chase & Co. raised their target price on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com cut PayPal from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and raised their price objective for the company from $86.00 to $103.00 in a research report on Monday, December 9th. Finally, The Goldman Sachs Group upped their target price on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.74.

PayPal Price Performance

Shares of PayPal stock opened at $91.02 on Friday. The business’s 50 day simple moving average is $83.87 and its two-hundred day simple moving average is $72.30. PayPal has a one year low of $55.77 and a one year high of $93.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market capitalization of $91.25 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly 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 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 company posted $0.97 EPS. PayPal’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts forecast that PayPal will post 4.57 EPS for the current year.

Hedge Funds Weigh In On PayPal

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mizuho Securities USA LLC lifted its holdings in PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after acquiring an additional 10,419,351 shares during the period. FMR LLC increased its position in shares of PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after purchasing an additional 7,767,072 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of PayPal in the 3rd quarter worth approximately $387,435,000. Primecap Management Co. CA boosted its holdings in shares of PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after buying an additional 3,184,160 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares during the period. 68.32% of the stock is owned by 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.