PayPal (NASDAQ:PYPL) Given New $76.00 Price Target at Piper Sandler

PayPal (NASDAQ:PYPL) had its price target cut by equities research analysts at Piper Sandler from $85.00 to $76.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the credit services provider’s stock. Piper Sandler’s target price points to a potential upside of 5.48% from the company’s current price.

Several other equities analysts have also commented on PYPL. Keefe, Bruyette & Woods upped their target price on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Phillip Securities restated an “accumulate” rating and set a $90.00 price objective (up from $80.00) on shares of PayPal in a research note on Friday, November 1st. Macquarie raised their target price on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Wolfe Research raised shares of 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. Finally, UBS Group lifted their target price on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Fourteen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.97.

PayPal Stock Performance

PYPL stock opened at $72.05 on Wednesday. The stock’s 50 day simple moving average is $84.25 and its 200 day simple moving average is $80.96. PayPal has a 12-month low of $56.97 and a 12-month high of $93.66. The firm has a market cap of $71.27 billion, a P/E ratio of 17.97, a P/E/G ratio of 1.27 and a beta of 1.44. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the firm posted $1.48 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities research analysts predict that PayPal will post 5.03 EPS for the current year.

Institutional Trading of PayPal

Hedge funds have recently made changes to their positions in the stock. Mpwm Advisory Solutions LLC acquired a new position in PayPal in the 4th quarter valued at approximately $25,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PayPal during the 3rd quarter valued at $26,000. Rosenberg Matthew Hamilton increased its stake in shares of PayPal by 67.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 125 shares during the last quarter. Hurley Capital LLC purchased a new stake in shares of PayPal during the fourth quarter worth $27,000. Finally, Sugarloaf Wealth Management LLC boosted its position in PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 272 shares during the last quarter. 68.32% of the stock is 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.