PayPal (NASDAQ:PYPL) Earns Neutral Rating from Piper Sandler

Piper Sandler restated their neutral rating on shares of PayPal (NASDAQ:PYPL) in a research note released on Friday morning, Marketbeat reports. The brokerage currently has a $88.00 target price on the credit services provider’s stock.

A number of other brokerages have also recently issued reports on PYPL. Oppenheimer began coverage on shares of PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Monness Crespi & Hardt raised their price objective on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Stephens boosted 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. Mizuho increased their price target on PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, TD Cowen lifted their price objective on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and an average target price of $83.60.

PayPal Stock Up 1.2 %

NASDAQ PYPL opened at $87.77 on Friday. PayPal has a 1-year low of $55.71 and a 1-year high of $88.74. The company has a market capitalization of $87.99 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.54 and a beta of 1.43. The stock’s 50 day moving average is $80.74 and its two-hundred day moving average is $69.89. The company has a current ratio of 1.25, a quick ratio of 1.25 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 return on equity of 23.44% and a net margin of 14.08%. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the previous year, the firm earned $0.97 EPS. PayPal’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts forecast that PayPal will post 4.57 earnings per share for the current fiscal year.

Institutional Trading of PayPal

Hedge funds have recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd acquired a new stake in PayPal in the third quarter worth $26,000. Family Firm Inc. acquired a new stake in PayPal during the 2nd quarter worth $29,000. SYSTM Wealth Solutions LLC raised its stake in 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 buying an additional 167 shares during the period. Tortoise Investment Management LLC lifted its holdings in PayPal by 930.0% during the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 465 shares in the last quarter. Finally, Planning Capital Management Corp increased its holdings in shares of PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 268 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.