Piper Sandler Raises PayPal (NASDAQ:PYPL) Price Target to $93.00

PayPal (NASDAQ:PYPL) had its price target lifted by equities researchers at Piper Sandler from $88.00 to $93.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the credit services provider’s stock. Piper Sandler’s price target points to a potential upside of 3.64% from the stock’s current price.

PYPL has been the subject of several other reports. JPMorgan Chase & Co. upped their price objective on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their target price on PayPal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Canaccord Genuity Group increased their target price on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Macquarie increased their target price on PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Finally, Wolfe Research raised PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price for the company in a research note on Friday, December 13th. Fourteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and a consensus target price of $89.48.

PayPal Stock Down 0.1 %

PYPL opened at $89.73 on Friday. The business has a 50 day moving average price of $87.62 and a two-hundred day moving average price of $77.49. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a market cap of $89.96 billion, a PE ratio of 21.42, a P/E/G ratio of 1.54 and a beta of 1.44. PayPal has a 52 week low of $55.77 and a 52 week high of $93.66.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm 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 23.44% and a net margin of 14.08%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 EPS. As a group, research analysts anticipate that PayPal will post 4.58 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. FMR LLC lifted its stake 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 worth $1,307,945,000 after purchasing an additional 7,767,072 shares during the period. Mizuho Securities USA LLC raised its position in shares of PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after buying an additional 10,419,351 shares during the period. Legal & General Group Plc raised its position in shares of PayPal by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after buying an additional 276,287 shares during the period. Clearbridge Investments LLC raised its position in shares of PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after buying an additional 1,866,925 shares during the period. Finally, Primecap Management Co. CA raised its position in shares of PayPal by 21.6% in the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after buying an additional 1,069,356 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

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.