PayPal (NASDAQ:PYPL) Given New $75.00 Price Target at Wells Fargo & Company

PayPal (NASDAQ:PYPL - Free Report) had its price objective lifted by Wells Fargo & Company from $70.00 to $75.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an equal weight rating on the credit services provider's stock.

A number of other equities analysts also recently weighed in on PYPL. Evercore ISI boosted their target price on PayPal from $65.00 to $70.00 and gave the stock an "in-line" rating in a research note on Tuesday, June 25th. Barclays upped their price objective on PayPal from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Friday, September 27th. Oppenheimer assumed coverage on PayPal in a research note on Tuesday, October 1st. They issued a "market perform" rating on the stock. Daiwa America raised shares of PayPal from a "moderate buy" rating to a "strong-buy" rating in a report on Friday, August 9th. Finally, TD Cowen boosted their target price on shares of PayPal from $68.00 to $70.00 and gave the company a "hold" rating in a report on Wednesday, July 31st. Seventeen research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, PayPal presently has an average rating of "Moderate Buy" and a consensus target price of $77.52.

PayPal Stock Down 1.2 %

PYPL traded down $1.00 during midday trading on Thursday, reaching $79.82. 8,652,563 shares of the company were exchanged, compared to its average volume of 13,698,473. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The company's fifty day moving average price is $73.52 and its 200 day moving average price is $66.41. The company has a market cap of $83.50 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44. PayPal has a one year low of $50.25 and a one year high of $82.00.

PayPal (NASDAQ:PYPL - Get Free Report) 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 analyst estimates of $7.82 billion. During the same period in the previous year, the company posted $0.83 EPS. The company's revenue for the quarter was up 8.2% on a year-over-year basis. As a group, analysts expect that PayPal will post 4.42 EPS for the current year.

Hedge Funds Weigh In On PayPal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pittenger & Anderson Inc. lifted its holdings in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider's stock valued at $26,000 after buying an additional 172 shares during the period. American National Bank purchased a new stake in shares of PayPal during the 1st quarter valued at about $27,000. Family Firm Inc. purchased a new stake in shares of PayPal during the 2nd quarter valued at about $29,000. SYSTM Wealth Solutions LLC lifted its stake in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock worth $29,000 after purchasing an additional 167 shares during the period. Finally, Register Financial Advisors LLC purchased a new position in shares of PayPal in the first quarter worth approximately $30,000. 68.32% of the stock is owned by institutional investors.

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.