PayPal (NASDAQ:PYPL) Price Target Raised to $94.00

PayPal (NASDAQ:PYPL) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $74.00 to $94.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the credit services provider’s stock.

A number of other analysts have also commented on the company. Robert W. Baird increased their price objective on PayPal from $77.00 to $80.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Canaccord Genuity Group reiterated a buy rating and set a $80.00 price target on shares of PayPal in a report on Wednesday, July 31st. Citigroup upped their price objective on shares of PayPal from $79.00 to $81.00 and gave the company a buy rating in a research note on Monday, June 10th. JPMorgan Chase & Co. lifted their target price on shares of PayPal from $77.00 to $80.00 and gave the stock an overweight rating in a research note on Tuesday, August 20th. Finally, Daiwa Capital Markets raised PayPal from a neutral rating to an outperform rating and increased their price target for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. Seventeen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $76.16.

PayPal Stock Performance

Shares of PYPL opened at $80.08 on Monday. PayPal has a 12-month low of $50.25 and a 12-month high of $80.43. The stock has a market cap of $83.77 billion, a P/E ratio of 20.17, a PEG ratio of 1.11 and a beta of 1.43. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $68.00 and a two-hundred day moving average of $64.82.

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

Institutional Investors Weigh In On PayPal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PYPL. Primecap Management Co. CA increased its position in shares of PayPal by 180.7% during the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after acquiring an additional 3,184,160 shares during the last quarter. Clearbridge Investments LLC grew its stake in PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in PayPal by 125.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after purchasing an additional 958,130 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of PayPal by 31.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after purchasing an additional 687,940 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of PayPal during the 1st quarter valued at approximately $42,297,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

About PayPal

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.