These Analysts Boost Price Targets On PayPal Following Upbeat Q2 Results

PayPal Holdings Inc PYPL reported better-than-expected earnings for its second quarter.

PayPal reported revenue of $6.8 billion for the second quarter, up 9% year-over-year. The revenue came in ahead of a Street estimate of $6.78 billion. The company reported non-GAAP earnings per share of 93 cents for the second quarter versus analyst estimates of 86 cents per share.

PayPal shares jumped 13.4% to $101.60 in the pre-market trading session.

Several analysts made changes to their price targets on PayPal following the release of results.

• Keybanc raised price target on PayPal from $100 to $115. However, Keybanc analyst Josh Beck maintained the stock with an Overweight.
• JMP Securities lifted boosted PayPal’s price target from $100 to $120. However, JMP Securities analyst David Scharf maintained the stock with a Market Outperform rating.
• Credit Suisse boosted the price target on the stock from $95 to $110. However, Credit Suisse analyst Timothy Chiodo maintained PayPal with an Outperform.
• Wells Fargo raised PayPal’s price target from $97 to $123. However, Wells Fargo analyst Jeff Cantwell maintained an Overweight rating on the stock.
• Morgan Stanley increased the price target on the stock $129 to $134. However Morgan Stanley analyst James Faucette maintained PayPal with an Overweight.
• Evercore ISI Group boosted price target on the stock from $124 to $136. However, Evercore ISI Group analyst David Togut maintained PayPal with an Outperform.