PayPal (NASDAQ:PYPL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

PayPal (NASDAQ:PYPL) had its price target increased by JPMorgan Chase & Co. from $80.00 to $90.00 in a report published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the credit services provider’s stock.

Other research analysts have also issued research reports about the stock. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets raised their price objective on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday. Susquehanna raised their price objective on shares of PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research note on Wednesday. Oppenheimer began coverage on shares of PayPal in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. Finally, Macquarie raised their price objective on shares of PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Fifteen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.83.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $77.25 on Wednesday. The firm’s 50 day moving average is $76.50 and its two-hundred day moving average is $67.69. PayPal has a 52 week low of $52.55 and a 52 week high of $83.70. The firm has a market capitalization of $77.45 billion, a P/E ratio of 18.44, a PEG ratio of 1.41 and a beta of 1.43. 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 announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the business earned $0.97 earnings per share. PayPal’s revenue was up 6.0% compared to the same quarter last year. Analysts anticipate that PayPal will post 4.56 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

Institutional investors have recently modified their holdings of the stock. Covestor Ltd raised its holdings in shares of PayPal by 15.4% during the 3rd quarter. Covestor Ltd now owns 2,602 shares of the credit services provider’s stock valued at $203,000 after purchasing an additional 347 shares in the last quarter. Troy Asset Management Ltd raised its holdings in shares of PayPal by 7.1% during the 3rd quarter. Troy Asset Management Ltd now owns 382,814 shares of the credit services provider’s stock valued at $29,871,000 after purchasing an additional 25,380 shares in the last quarter. Atria Investments Inc raised its holdings in shares of PayPal by 17.1% during the 3rd quarter. Atria Investments Inc now owns 107,964 shares of the credit services provider’s stock valued at $8,424,000 after purchasing an additional 15,741 shares in the last quarter. Demars Financial Group LLC raised its holdings in shares of PayPal by 4.8% during the 3rd quarter. Demars Financial Group LLC now owns 6,764 shares of the credit services provider’s stock valued at $528,000 after purchasing an additional 309 shares in the last quarter. Finally, Beta Wealth Group Inc. raised its holdings in shares of PayPal by 4.1% during the 3rd quarter. Beta Wealth Group Inc. now owns 7,700 shares of the credit services provider’s stock valued at $601,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds 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.