PayPal (NASDAQ:PYPL) Price Target Raised to $90.00 at JPMorgan Chase & Co.

PayPal (NASDAQ:PYPL) had its price target raised by analysts at JPMorgan Chase & Co. from $80.00 to $90.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 13.64% from the stock’s previous close.

A number of other research firms have also commented on PYPL. Mizuho lifted their price target on shares of PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 target price on shares of PayPal in a research report on Wednesday, July 31st. Barclays upped their price target on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Susquehanna boosted their price objective on PayPal from $83.00 to $94.00 and gave the stock a “positive” rating in a research report on Wednesday. Finally, Robert W. Baird upped their price target on PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday. Seventeen research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.07.

PayPal Price Performance

Shares of PayPal stock traded down $1.08 on Wednesday, hitting $79.20. The company had a trading volume of 6,578,794 shares, compared to its average volume of 13,602,483. PayPal has a 52 week low of $50.80 and a 52 week high of $83.70. The company has a market cap of $82.85 billion, a PE ratio of 19.95, a PEG ratio of 1.51 and a beta of 1.44. The business has a 50-day simple moving average of $76.10 and a 200-day simple moving average of $67.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. The firm had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. Research analysts expect that PayPal will post 4.44 EPS for the current fiscal year.

Institutional Trading of PayPal

Hedge funds and other institutional investors have recently modified their holdings of the stock. Greenwood Capital Associates LLC acquired a new position in PayPal during the third quarter valued at approximately $216,000. Catalyst Capital Advisors LLC boosted its holdings in shares of PayPal by 154.1% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,569 shares of the credit services provider’s stock valued at $200,000 after buying an additional 1,558 shares during the last quarter. Quintet Private Bank Europe S.A. grew its stake in shares of PayPal by 15.6% in the third quarter. Quintet Private Bank Europe S.A. now owns 660,801 shares of the credit services provider’s stock valued at $51,562,000 after buying an additional 89,237 shares in the last quarter. PDS Planning Inc acquired a new position in PayPal during the third quarter worth $235,000. Finally, Palisades Hudson Asset Management L.P. bought a new stake in PayPal during the third quarter worth $261,000. Institutional investors and hedge funds 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.