Phillip Securities Reaffirms “Accumulate” Rating for PayPal (NASDAQ:PYPL)

PayPal (NASDAQ:PYPL)‘s stock had its “accumulate” rating reiterated by investment analysts at Phillip Securities in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $90.00 price target on the credit services provider’s stock, up from their previous price target of $80.00. Phillip Securities’ price objective points to a potential upside of 16.50% from the stock’s previous close.

Several other research firms have also commented on PYPL. Royal Bank of Canada boosted their price objective on shares of PayPal from $84.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday. Oppenheimer initiated coverage on PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. TD Cowen raised their price objective on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 target price on shares of PayPal in a research report on Wednesday, September 18th. Finally, Monness Crespi & Hardt raised their price target on PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Fifteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.83.

PayPal Stock Performance

Shares of NASDAQ:PYPL opened at $77.25 on Friday. The firm has a 50 day moving average of $76.50 and a 200 day moving average of $67.69. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $77.45 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.41 and a beta of 1.43. PayPal has a 52 week low of $52.55 and a 52 week high of $83.70.

PayPal (NASDAQ:PYPL) last issued 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 $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the prior year, the business posted $0.97 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts predict that PayPal will post 4.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently modified their holdings of the company. Pittenger & Anderson Inc. boosted its position in PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares in the last quarter. Financial Management Professionals Inc. raised its stake in shares of PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after buying an additional 243 shares during the period. CarsonAllaria Wealth Management Ltd. lifted its position in shares of PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares in the last quarter. Family Firm Inc. acquired a new stake in PayPal in the 2nd quarter valued at $29,000. Finally, SYSTM Wealth Solutions LLC increased its holdings in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.