Susquehanna Forecasts Strong Price Appreciation for PayPal (NASDAQ:PYPL) Stock

PayPal (NASDAQ:PYPL) had its price target raised by Susquehanna from $83.00 to $94.00 in a research report released on Wednesday, Benzinga reports. They currently have a positive rating on the credit services provider’s stock.

A number of other equities research analysts also recently commented on PYPL. Stephens lifted their target price on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Robert W. Baird upped their price objective on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday. Jefferies Financial Group dropped their target price on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets raised their price objective on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday. Seventeen research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.03.

PayPal Stock Down 2.6 %

PayPal stock opened at $78.22 on Wednesday. PayPal has a 12 month low of $50.80 and a 12 month high of $83.70. The stock has a fifty day simple moving average of $76.24 and a two-hundred day simple moving average of $67.48. 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 firm has a market cap of $81.82 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.51 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its earnings results 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. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. PayPal’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.97 EPS. Equities analysts predict that PayPal will post 4.44 EPS for the current fiscal year.

Institutional Investors Weigh In On PayPal

Several large investors have recently made changes to their positions in the company. Legal & General Group Plc increased its stake in 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 worth $501,184,000 after acquiring an additional 276,287 shares during the last quarter. Clearbridge Investments LLC increased its position in PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares during the last quarter. Primecap Management Co. CA raised its stake in 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 valued at $287,043,000 after purchasing an additional 3,184,160 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in PayPal by 14.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock valued at $183,789,000 after purchasing an additional 409,322 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of PayPal by 5.1% in 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. 68.32% of the stock is owned by institutional investors.

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.