PayPal (NASDAQ:PYPL) Stock Price Up 0.6% Following Analyst Upgrade

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report)'s share price rose 0.6% during trading on Thursday after Wells Fargo & Company raised their price target on the stock from $75.00 to $80.00. Wells Fargo & Company currently has an equal weight rating on the stock. PayPal traded as high as $90.37 and last traded at $90.16. Approximately 1,413,177 shares traded hands during trading, a decline of 81% from the average daily volume of 7,271,020 shares. The stock had previously closed at $89.64.

Several other brokerages also recently commented on PYPL. Piper Sandler restated a "neutral" rating and issued a $88.00 target price on shares of PayPal in a research note on Friday, November 22nd. 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. The Goldman Sachs Group upped their target price on PayPal from $79.00 to $87.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Wolfe Research raised shares of PayPal from a "peer perform" rating to an "outperform" rating and set a $107.00 price target for the company in a research report on Friday, December 13th. Finally, Oppenheimer started coverage on shares of PayPal in a report on Tuesday, October 1st. They set a "market perform" rating on the stock. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $89.32.

Hedge Funds Weigh In On PayPal

Large investors have recently modified their holdings of the business. Rosenberg Matthew Hamilton grew its stake in PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock valued at $26,000 after buying an additional 125 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PayPal in the third quarter valued at $26,000. Sugarloaf Wealth Management LLC raised its stake in shares of PayPal by 344.3% during the 4th 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 period. Planning Capital Management Corp lifted its holdings in PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock worth $32,000 after purchasing an additional 268 shares in the last quarter. Finally, Financial Management Professionals Inc. boosted its stake 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 purchasing an additional 243 shares during the period. Hedge funds and other institutional investors own 68.32% of the company's stock.

PayPal Stock Down 0.8 %

The stock has a fifty day simple moving average of $87.08 and a two-hundred day simple moving average of $76.40. The firm has a market cap of $89.15 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44. 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 - Get Free Report) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the prior year, the firm posted $0.97 EPS. PayPal's revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 4.57 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.