PayPal Soars to Record High After Earnings

No fewer than 12 analysts raised their price targets

Deputy Editor
May 7, 2020 at 10:16 AM
facebook X logo linkedin


The shares of PayPal Holdings Inc (NASDAQ:PYPL) are up 10.2% at $141.38, earlier touching a fresh record high of $143.85, after the company posted a first-quarter earnings beat. The payments name also shared optimism for its second-quarter forecast, saying sales will increase as people start to return to work. In response, no fewer than 12 analysts have raised their price targets -- with both Wedbush and Cannacord Genuity hiking to $160. Looking ahead, PayPal expects a strong second quarter as online shopping surges. 

PYPL is up 26.2% in the last month, giving it an 18.6% surplus year-to-date. Continuing its upward trend, today's pop puts the virtual payment outlet on pace toward its best daily percentage gain since March. 

Coming into today, 23 out of 26 analysts sport a "strong buy" rating, one considering a "buy," and the remaining two at a tepid "hold." Meanwhile, the equity's consensus 12-month price target of $140.79, comes in slightly below current levels.

Short interest has fallen off, down 26.4% in the last two reporting periods. The 11.87 million shares sold short make up just 1.1% of the stock's total available float, and would only take a little over one day to recover at PYPL's average pace of trading. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI