PayPal (NASDAQ:PYPL) Trading 3.2% Higher on Analyst Upgrade

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) traded up 3.2% during mid-day trading on Friday 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 $91.80 and last traded at $91.74. 5,090,735 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 7,412,152 shares. The stock had previously closed at $88.92.

A number of other brokerages have also recently issued reports on PYPL. Barclays raised their price objective on shares of PayPal from $92.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Oppenheimer assumed coverage on PayPal in a research report on Tuesday, October 1st. They issued a "market perform" rating on the stock. Macquarie upped their price objective on PayPal from $95.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. raised their target price on PayPal from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $88.00 price target on shares of PayPal in a research report on Friday, November 22nd. Fourteen 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $89.32.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PYPL. New Century Financial Group LLC bought a new position in shares of PayPal in the 4th quarter valued at about $274,000. FCG Investment Co grew its holdings in PayPal by 8.6% during the fourth quarter. FCG Investment Co now owns 15,019 shares of the credit services provider's stock worth $1,282,000 after purchasing an additional 1,190 shares during the period. Secure Asset Management LLC acquired a new position in PayPal during the fourth quarter worth approximately $257,000. Red Door Wealth Management LLC raised its stake in PayPal by 6.4% in the fourth quarter. Red Door Wealth Management LLC now owns 48,089 shares of the credit services provider's stock valued at $4,104,000 after buying an additional 2,872 shares during the period. Finally, Avior Wealth Management LLC lifted its position in shares of PayPal by 5.6% in the fourth quarter. Avior Wealth Management LLC now owns 24,928 shares of the credit services provider's stock valued at $2,128,000 after buying an additional 1,321 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.

PayPal Price Performance

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $92.04 billion, a P/E ratio of 21.91, a P/E/G ratio of 1.42 and a beta of 1.44. The company has a 50 day moving average price of $87.40 and a 200 day moving average price of $76.72.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to analysts' expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 earnings per share. On average, equities analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

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.