JPMorgan Chase & Co. Forecasts Strong Price Appreciation for PayPal (NASDAQ:PYPL) Stock

PayPal (NASDAQ:PYPL) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $80.00 to $90.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 13.49% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. TD Cowen raised their price target on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Barclays boosted their price objective on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Royal Bank of Canada increased their target price on PayPal from $84.00 to $89.00 and gave the stock an “outperform” 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, Deutsche Bank Aktiengesellschaft lifted their price objective on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Seventeen equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.03.

PayPal Price Performance

PayPal stock opened at $79.30 on Wednesday. The stock has a market capitalization of $79.50 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.40 and a beta of 1.44. PayPal has a 52-week low of $50.80 and a 52-week high of $83.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.24 and a current ratio of 1.25. The stock’s 50 day moving average price is $76.39 and its two-hundred day moving average price is $67.56.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.12. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 earnings per share. On average, equities analysts predict that PayPal will post 4.54 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PYPL. Pittenger & Anderson Inc. lifted its position in PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares during the period. Family Firm Inc. purchased a new position in PayPal during the 2nd quarter valued at about $29,000. SYSTM Wealth Solutions LLC boosted its stake in PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. Tortoise Investment Management LLC grew its holdings in PayPal by 930.0% in the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 465 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in shares of PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

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.