Wells Fargo & Company Issues Positive Forecast for PayPal (NASDAQ:PYPL) Stock Price

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

A number of other research analysts have also issued reports on PYPL. Canaccord Genuity Group boosted their price target on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their target price on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Phillip Securities restated an “accumulate” rating and set a $90.00 target price (up from $80.00) on shares of PayPal in a report on Friday, November 1st. Stephens upped their price target on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Citigroup increased their price objective on PayPal from $94.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday. Fourteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and a consensus price target of $89.32.

PayPal Stock Up 3.3 %

PYPL stock opened at $91.81 on Thursday. The firm’s 50-day moving average is $87.23 and its two-hundred day moving average is $76.49. The company has a market capitalization of $92.04 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44. PayPal has a 52 week low of $55.77 and a 52 week high of $93.66. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49.

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

Hedge Funds Weigh In On PayPal

Hedge funds have recently bought and sold shares of the business. Rosenberg Matthew Hamilton increased its holdings in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 125 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in PayPal during the third quarter valued at approximately $26,000. Sugarloaf Wealth Management LLC grew its holdings 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. Planning Capital Management Corp raised its position in shares of PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares during the period. Finally, Financial Management Professionals Inc. raised its holdings in PayPal by 125.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 243 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Company Profile

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.