PayPal (NASDAQ:PYPL) Stock Price Up 0.1% Following Analyst Upgrade

PayPal Holdings, Inc. (NASDAQ:PYPL) shares were up 0.1% during trading on Monday after Mizuho raised their price target on the stock from $90.00 to $100.00. Mizuho currently has an outperform rating on the stock. PayPal traded as high as $80.79 and last traded at $80.58. Approximately 1,345,063 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 13,775,230 shares. The stock had previously closed at $80.51.

Several other equities analysts have also commented on PYPL. Barclays upped their price target on shares of PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Oppenheimer initiated coverage on PayPal in a report on Tuesday, October 1st. They set a “market perform” rating for the company. JPMorgan Chase & Co. lifted their target price on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft upped their price target on PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Sanford C. Bernstein lowered PayPal from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $75.00 to $80.00 in a research note on Thursday. Seventeen equities 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $77.03.

Institutional Investors Weigh In On PayPal

Institutional investors and hedge funds have recently made changes to their positions in the company. Pittenger & Anderson Inc. increased its stake in PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank bought a new stake in shares of PayPal during the 1st quarter valued at about $27,000. Register Financial Advisors LLC acquired a new stake in PayPal during the first quarter worth about $30,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 185 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in PayPal in the second quarter valued at approximately $29,000. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Price Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The company has a fifty day moving average price of $72.42 and a 200 day moving average price of $66.12. The company has a market capitalization of $84.22 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same period in the prior year, the business earned $0.83 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

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.