PayPal (NASDAQ:PYPL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

PayPal (NASDAQ:PYPL) had its price objective increased by stock analysts at Wells Fargo & Company from $75.00 to $80.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the credit services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 12.86% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Barclays boosted their price objective on PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. The Goldman Sachs Group increased their price objective on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt boosted their target price on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.32.

PayPal Stock Performance

NASDAQ PYPL opened at $91.81 on Thursday. The business’s 50-day simple moving average is $87.23 and its 200-day simple moving average is $76.49. The firm has a market capitalization of $92.04 billion, a P/E ratio of 21.91, a P/E/G ratio of 1.42 and a beta of 1.44. PayPal has a 1-year low of $55.77 and a 1-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.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the previous year, the firm earned $0.97 earnings per share. PayPal’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts predict that PayPal will post 4.57 EPS for the current year.

Institutional Trading of PayPal

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mizuho Securities USA LLC boosted its holdings in shares of PayPal by 12,919.4% during 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 lifted its position in PayPal by 86.3% in 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 acquired a new position in PayPal during the 3rd quarter valued at about $387,435,000. Clearbridge Investments LLC grew its position in 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 purchasing an additional 1,866,925 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of PayPal by 9,864.9% in the third quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock valued at $87,336,000 after purchasing an additional 1,108,030 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.