Morgan Stanley Issues Positive Forecast for PayPal (NASDAQ:PYPL) Stock Price

PayPal (NASDAQ:PYPL - Get Free Report) had its price objective raised by equities research analysts at Morgan Stanley from $76.00 to $90.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the credit services provider's stock. Morgan Stanley's target price indicates a potential upside of 5.32% from the company's current price.

Several other research analysts have also weighed in on PYPL. Susquehanna upped their target price on shares of PayPal from $83.00 to $94.00 and gave the stock a "positive" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on PayPal from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Needham & Company LLC reiterated a "hold" rating on shares of PayPal in a research report on Wednesday, October 30th. Monness Crespi & Hardt raised their price target on PayPal from $95.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Finally, 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 note on Wednesday, October 30th. Fifteen investment 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $88.42.

PayPal Stock Performance

Shares of NASDAQ PYPL traded down $5.41 during mid-day trading on Wednesday, hitting $85.45. 12,382,689 shares of the company were exchanged, compared to its average volume of 13,010,769. PayPal has a 1-year low of $55.77 and a 1-year high of $93.66. The firm has a market cap of $85.67 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock has a 50 day simple moving average of $84.29 and a 200-day simple moving average of $72.78.

PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results 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. The company had revenue of $7.85 billion for the quarter, compared to analysts' expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 EPS. On average, sell-side analysts forecast that PayPal will post 4.57 EPS for the current fiscal year.

Institutional Trading of PayPal

Several large investors have recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC grew its stake in shares of PayPal by 7.4% in the third quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider's stock valued at $141,000 after buying an additional 124 shares in the last quarter. First United Bank & Trust raised its stake in shares of PayPal by 6.4% during the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider's stock valued at $187,000 after purchasing an additional 145 shares during the period. Ritholtz Wealth Management lifted its position in shares of PayPal by 3.3% during the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider's stock worth $369,000 after purchasing an additional 152 shares in the last quarter. Laraway Financial Advisors Inc boosted its stake in shares of PayPal by 3.8% in the third quarter. Laraway Financial Advisors Inc now owns 4,228 shares of the credit services provider's stock valued at $330,000 after purchasing an additional 154 shares during the period. Finally, SYSTM Wealth Solutions LLC grew its holdings in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock valued at $29,000 after purchasing an additional 167 shares in the last quarter. 68.32% of the stock is currently 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.