PayPal (NASDAQ:PYPL) Price Target Raised to $95.00

PayPal (NASDAQ:PYPL) had its target price hoisted by Macquarie from $90.00 to $95.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the credit services provider’s stock. Macquarie’s price target indicates a potential upside of 21.03% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Monness Crespi & Hardt raised their target price on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday. UBS Group raised their target price on shares of PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on shares of PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Jefferies Financial Group lowered their target price on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Seventeen research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.03.

PayPal Stock Performance

Shares of PYPL stock traded down $1.79 during trading hours on Wednesday, reaching $78.49. The stock had a trading volume of 9,450,848 shares, compared to its average volume of 13,614,420. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. PayPal has a twelve month low of $50.80 and a twelve month high of $83.70. The firm has a 50-day simple moving average of $76.10 and a 200-day simple moving average of $67.41. The firm has a market capitalization of $82.10 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the company earned $0.97 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts forecast that PayPal will post 4.44 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

Several institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of PayPal by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after purchasing an additional 276,287 shares in the last quarter. Clearbridge Investments LLC lifted its position 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 worth $493,907,000 after buying an additional 1,866,925 shares in the last quarter. Primecap Management Co. CA lifted its position in PayPal by 180.7% during the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after buying an additional 3,184,160 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in PayPal by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after buying an additional 409,322 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in PayPal by 5.1% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock worth $176,789,000 after buying an additional 146,643 shares in 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.