BMO Capital Markets Increases PayPal (NASDAQ:PYPL) Price Target to $82.00

PayPal (NASDAQ:PYPL) had its target price increased by equities researchers at BMO Capital Markets from $73.00 to $82.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the credit services provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 3.40% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Susquehanna increased their price objective on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group increased their price target on shares of PayPal from $69.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Morgan Stanley boosted their price objective on shares of PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Wednesday. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Seventeen investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.03.

PayPal Stock Performance

PayPal stock opened at $79.30 on Wednesday. PayPal has a fifty-two week low of $50.80 and a fifty-two week high of $83.70. The firm’s 50 day simple moving average is $76.39 and its 200-day simple moving average is $67.56. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.24. The company has a market cap of $79.50 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 1.40 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.12. The firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 EPS. As a group, equities research analysts predict that PayPal will post 4.54 EPS for the current year.

Institutional Investors Weigh In On PayPal

Hedge funds have recently modified their holdings of the business. Philip James Wealth Mangement LLC acquired a new position in PayPal during the 3rd quarter valued at $2,860,000. J.P. Marvel Investment Advisors LLC bought a new position in shares of PayPal during the 3rd quarter worth about $1,170,000. ARK Investment Management LLC raised its position in shares of PayPal by 30.7% during the third quarter. ARK Investment Management LLC now owns 186,090 shares of the credit services provider’s stock valued at $14,521,000 after buying an additional 43,686 shares during the last quarter. Portside Wealth Group LLC lifted its stake in shares of PayPal by 16.5% in the third quarter. Portside Wealth Group LLC now owns 4,698 shares of the credit services provider’s stock valued at $367,000 after buying an additional 664 shares during the period. Finally, JB Capital LLC grew its position in PayPal by 3.0% during the third quarter. JB Capital LLC now owns 42,155 shares of the credit services provider’s stock worth $3,289,000 after buying an additional 1,224 shares in the last quarter. 68.32% of the stock is owned by 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.