PayPal (NASDAQ:PYPL) Price Target Raised to $80.00 at Wells Fargo & Company

PayPal (NASDAQ:PYPL - Get Free Report) had its price target upped by investment analysts at Wells Fargo & Company from $75.00 to $80.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the credit services provider's stock. Wells Fargo & Company's price objective suggests a potential downside of 12.86% from the company's current price.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PayPal from $74.00 to $94.00 and gave the stock a "buy" rating in a research report on Monday, September 23rd. The Goldman Sachs Group lifted their price target on shares of PayPal from $79.00 to $87.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Sanford C. Bernstein lowered PayPal from an "outperform" rating to a "market perform" rating and increased their price objective for the company from $75.00 to $80.00 in a report on Thursday, October 10th. Monness Crespi & Hardt boosted their target price on shares of PayPal from $95.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of PayPal from $92.00 to $104.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Fourteen research 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $89.32.

PayPal Stock Up 3.2 %

PYPL stock traded up $2.89 during trading on Thursday, hitting $91.81. 12,099,840 shares of the company's stock traded hands, compared to its average volume of 8,072,791. The business has a fifty day simple moving average of $87.08 and a two-hundred day simple moving average of $76.40. 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 firm has a market capitalization of $92.04 billion, a P/E ratio of 21.89, a PEG ratio of 1.42 and a beta of 1.44. PayPal has a 1 year low of $55.77 and a 1 year high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly 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 during the quarter, compared to analyst estimates of $7.88 billion. During the same period in the previous year, the company posted $0.97 EPS. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts anticipate that PayPal will post 4.57 EPS for the current year.

Hedge Funds Weigh In On PayPal

A number of institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in PayPal by 104.5% in the fourth quarter. SG Americas Securities LLC now owns 29,624 shares of the credit services provider's stock valued at $2,528,000 after acquiring an additional 694,266 shares during the last quarter. Sharp Financial Services LLC raised its position in PayPal by 7.7% in the fourth quarter. Sharp Financial Services LLC now owns 4,875 shares of the credit services provider's stock valued at $416,000 after purchasing an additional 350 shares during the period. Evolution Wealth Advisors LLC acquired a new position in shares of PayPal in the 4th quarter valued at $208,000. Park Place Capital Corp grew its holdings in shares of PayPal by 6.6% during the 4th quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider's stock worth $161,000 after purchasing an additional 116 shares during the period. Finally, Albion Financial Group UT increased its position in shares of PayPal by 7.5% during the 4th quarter. Albion Financial Group UT now owns 4,317 shares of the credit services provider's stock worth $368,000 after purchasing an additional 301 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other 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.