PayPal (NASDAQ:PYPL – Free Report) had its target price boosted by UBS Group from $72.00 to $85.00 in a research note issued to investors on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the credit services provider’s stock.
Other equities analysts have also issued reports about the stock. BMO Capital Markets raised their target price on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Macquarie increased their target price 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, Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price target on shares of PayPal in a report on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and an average price target of $82.03.
Get Our Latest Stock Analysis on PYPL
PayPal Price Performance
PayPal (NASDAQ:PYPL – Get Free Report) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 EPS. As a group, sell-side analysts anticipate that PayPal will post 4.44 EPS for the current year.
Institutional Investors Weigh In On PayPal
Several institutional investors and hedge funds have recently made changes to their positions in the business. Pittenger & Anderson Inc. raised its position in PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the last quarter. Financial Management Professionals Inc. increased its stake in shares of PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 243 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its stake in shares of PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. Family Firm Inc. acquired a new position in shares of PayPal during the 2nd quarter worth approximately $29,000. Finally, SYSTM Wealth Solutions LLC lifted its stake in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares in the last quarter. 68.32% of the stock is currently 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.
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