PayPal (NASDAQ:PYPL) Price Target Raised to $104.00

PayPal (NASDAQ:PYPL - Free Report) had its price target boosted by Keefe, Bruyette & Woods from $92.00 to $104.00 in a research note released on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the credit services provider's stock.

PYPL has been the subject of a number of other reports. Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a research note on Wednesday, October 30th. Stephens lifted their target price on PayPal from $75.00 to $85.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. JPMorgan Chase & Co. raised their price objective on shares of PayPal from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their target price on shares of PayPal from $84.00 to $89.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Finally, Bank of America upgraded shares of PayPal from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $86.00 to $103.00 in a research report on Monday. Sixteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PayPal has an average rating of "Moderate Buy" and an average target price of $85.70.

PayPal Stock Performance

Shares of NASDAQ PYPL traded up $0.12 during mid-day trading on Monday, hitting $90.00. The company had a trading volume of 10,705,963 shares, compared to its average volume of 13,164,605. The stock has a market cap of $90.23 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 1.64 and a beta of 1.44. The firm's 50 day simple moving average is $82.90 and its two-hundred day simple moving average is $71.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. PayPal has a 12 month low of $55.77 and a 12 month 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. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 earnings per share. As a group, equities research analysts forecast that PayPal will post 4.57 earnings per share for the current year.

Institutional Trading of PayPal

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Gordian Capital Singapore Pte Ltd bought a new position in PayPal in the 3rd quarter worth $26,000. Family Firm Inc. bought a new position in shares of PayPal in the second quarter worth about $29,000. SYSTM Wealth Solutions LLC lifted its position in shares of PayPal by 50.6% during 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 last quarter. Tortoise Investment Management LLC boosted its stake in PayPal by 930.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider's stock valued at $30,000 after purchasing an additional 465 shares during the period. Finally, Planning Capital Management Corp increased its position in PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock worth $32,000 after buying an additional 268 shares during the period. Institutional investors and hedge funds own 68.32% of the company's stock.

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.