PayPal (NASDAQ:PYPL) Given New $76.00 Price Target at Piper Sandler

PayPal (NASDAQ:PYPL) had its price target reduced by Piper Sandler from $85.00 to $76.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the credit services provider’s stock.

A number of other brokerages have also recently weighed in on PYPL. The Goldman Sachs Group lifted their price objective on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company restated an “equal weight” rating on shares of PayPal in a report on Wednesday, February 5th. Barclays lifted their price objective on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective for the company in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of PayPal in a report on Tuesday, February 4th. Fourteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and a consensus price target of $89.97.

PayPal Price Performance

Shares of PYPL stock opened at $72.05 on Wednesday. PayPal has a 12 month low of $56.97 and a 12 month high of $93.66. The company has a market capitalization of $71.27 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.27 and a beta of 1.44. The firm’s 50-day moving average is $84.25 and its two-hundred day moving average is $80.96. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the business earned $1.48 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts predict that PayPal will post 5.03 earnings per share for the current year.

Institutional Trading of PayPal

Institutional investors and hedge funds have recently bought and sold shares of the business. Mpwm Advisory Solutions LLC purchased a new stake in PayPal in the 4th quarter valued at $25,000. Hurley Capital LLC purchased a new stake in PayPal in the 4th quarter valued at $27,000. Rosenberg Matthew Hamilton raised its position 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 purchasing an additional 125 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in PayPal in the 3rd quarter valued at $26,000. Finally, Sugarloaf Wealth Management LLC increased its stake in PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

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.