PayPal (NASDAQ:PYPL) Stock Price Expected to Rise, Robert W. Baird Analyst Says

PayPal (NASDAQ:PYPL) had its price target increased by Robert W. Baird from $80.00 to $91.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the credit services provider’s stock.

Several other equities research analysts have also recently commented on PYPL. Jefferies Financial Group decreased their target price on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Monness Crespi & Hardt raised their target price on PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. William Blair upgraded PayPal to a “hold” rating in a report on Tuesday, July 30th. Stephens increased their price target on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, BMO Capital Markets increased their price target on PayPal from $72.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Seventeen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.29.

PayPal Trading Down 2.6 %

Shares of PYPL stock opened at $77.25 on Wednesday. The stock has a 50-day moving average of $76.50 and a 200-day moving average of $67.66. PayPal has a 1-year low of $52.55 and a 1-year high of $83.70. The stock has a market cap of $77.45 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.40 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.08 by $0.12. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the firm posted $0.97 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts forecast that PayPal will post 4.54 earnings per share for the current year.

Institutional Trading of PayPal

A number of institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd increased its position in shares of PayPal by 15.4% during the third quarter. Covestor Ltd now owns 2,602 shares of the credit services provider’s stock valued at $203,000 after acquiring an additional 347 shares during the last quarter. Troy Asset Management Ltd increased its position in shares of PayPal by 7.1% during the third quarter. Troy Asset Management Ltd now owns 382,814 shares of the credit services provider’s stock valued at $29,871,000 after acquiring an additional 25,380 shares during the last quarter. Atria Investments Inc increased its position in PayPal by 17.1% in the third quarter. Atria Investments Inc now owns 107,964 shares of the credit services provider’s stock worth $8,424,000 after buying an additional 15,741 shares during the last quarter. Demars Financial Group LLC increased its position in PayPal by 4.8% in the third quarter. Demars Financial Group LLC now owns 6,764 shares of the credit services provider’s stock worth $528,000 after buying an additional 309 shares during the last quarter. Finally, Beta Wealth Group Inc. increased its position in PayPal by 4.1% in the third quarter. Beta Wealth Group Inc. now owns 7,700 shares of the credit services provider’s stock worth $601,000 after buying an additional 300 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.