Piper Sandler Raises PayPal (NASDAQ:PYPL) Price Target to $93.00

PayPal (NASDAQ:PYPL) had its target price lifted by Piper Sandler from $88.00 to $93.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the credit services provider’s stock. Piper Sandler’s price objective suggests a potential upside of 3.64% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. Macquarie lifted their target price on PayPal from $95.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Susquehanna lifted their target price on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research report on Monday, January 6th. Finally, Citigroup lifted their price objective on PayPal from $94.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and an average price target of $89.48.

PayPal Price Performance

PYPL stock opened at $89.73 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The business has a 50 day simple moving average of $87.62 and a 200-day simple moving average of $77.49. The firm has a market capitalization of $89.96 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.54 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) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 23.44% and a net margin of 14.08%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 earnings per share. Equities research analysts anticipate that PayPal will post 4.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Rosenberg Matthew Hamilton lifted its holdings in shares of 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 shares of PayPal in the 3rd quarter valued at about $26,000. Sugarloaf Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 272 shares during the last quarter. Planning Capital Management Corp lifted its holdings in shares of PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its holdings in shares of PayPal by 125.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 243 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

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.