Barclays Boosts PayPal (NASDAQ:PYPL) Price Target to $85.00

PayPal (NASDAQ:PYPL) had its price objective boosted by Barclays from $81.00 to $85.00 in a research note published on Thursday, Benzinga reports. The firm currently has an overweight rating on the credit services provider’s stock.

A number of other research firms have also weighed in on PYPL. TD Cowen boosted their target price on shares of PayPal from $68.00 to $70.00 and gave the stock a hold rating in a report on Wednesday, July 31st. New Street Research started coverage on shares of PayPal in a report on Friday, May 31st. They set a buy rating and a $80.00 target price on the stock. Sanford C. Bernstein raised shares of PayPal from a market perform rating to an outperform rating and boosted their target price for the stock from $71.00 to $78.00 in a report on Wednesday, July 31st. Keefe, Bruyette & Woods reissued an outperform rating and set a $78.00 target price on shares of PayPal in a report on Thursday, July 11th. Finally, William Blair raised shares of PayPal to a hold rating in a report on Tuesday, July 30th. Nineteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, PayPal presently has an average rating of Hold and an average target price of $74.94.

PayPal Price Performance

PYPL stock opened at $61.98 on Thursday. The company has a 50 day simple moving average of $61.01 and a 200 day simple moving average of $62.26. The stock has a market cap of $63.36 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 0.93 and a beta of 1.42. PayPal has a 1 year low of $50.25 and a 1 year high of $70.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.28.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.83 EPS. Research analysts anticipate that PayPal will post 4.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the transaction, the director now owns 13,976 shares in the company, valued at $861,620.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SouthState Corp raised its holdings in shares of PayPal by 21.6% in the second quarter. SouthState Corp now owns 48,154 shares of the credit services provider’s stock valued at $2,794,000 after purchasing an additional 8,546 shares during the last quarter. Hohimer Wealth Management LLC raised its holdings in shares of PayPal by 965.2% in the second quarter. Hohimer Wealth Management LLC now owns 62,866 shares of the credit services provider’s stock valued at $3,648,000 after purchasing an additional 56,964 shares during the last quarter. Nicholas Hoffman & Company LLC. raised its holdings in shares of PayPal by 24.8% in the second quarter. Nicholas Hoffman & Company LLC. now owns 20,190 shares of the credit services provider’s stock valued at $1,172,000 after purchasing an additional 4,006 shares during the last quarter. Stablepoint Partners LLC raised its holdings in shares of PayPal by 1.5% in the second quarter. Stablepoint Partners LLC now owns 17,220 shares of the credit services provider’s stock valued at $1,015,000 after purchasing an additional 251 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of PayPal by 49.1% in the second quarter. Larson Financial Group LLC now owns 2,855 shares of the credit services provider’s stock valued at $166,000 after purchasing an additional 940 shares during the last quarter. Institutional investors and hedge funds 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.