Barclays Raises PayPal (NASDAQ:PYPL) Price Target to $92.00

PayPal (NASDAQ:PYPL) had its price target increased by Barclays from $85.00 to $92.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the credit services provider’s stock.

Several other analysts have also commented on the stock. The Goldman Sachs Group reaffirmed a neutral rating and set a $69.00 price target on shares of PayPal in a research report on Thursday, September 19th. Daiwa America upgraded shares of PayPal from a moderate buy rating to a strong-buy rating in a research note on Friday, August 9th. UBS Group lifted their price objective on shares of PayPal from $71.00 to $72.00 and gave the stock a neutral rating in a research report on Wednesday, July 31st. Robert W. Baird lifted their price objective on shares of PayPal from $77.00 to $80.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. Finally, New Street Research assumed coverage on shares of PayPal in a research report on Friday, May 31st. They issued a buy rating and a $80.00 price target for the company. Seventeen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $76.38.

PayPal Stock Down 2.7 %

PayPal stock opened at $77.88 on Friday. The business has a fifty day moving average of $68.78 and a two-hundred day moving average of $65.11. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a market cap of $79.62 billion, a P/E ratio of 19.62, a P/E/G ratio of 1.12 and a beta of 1.43. PayPal has a twelve month low of $50.25 and a twelve month high of $80.63.

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

Hedge Funds Weigh In On PayPal

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Distillate Capital Partners LLC increased its holdings in PayPal by 156,934.7% in the second quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock worth $19,957,000 after purchasing an additional 343,687 shares in the last quarter. Fiduciary Alliance LLC increased its holdings in PayPal by 604.7% in the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock worth $3,452,000 after purchasing an additional 45,544 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in PayPal by 44.6% in the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after purchasing an additional 381 shares in the last quarter. Blue Trust Inc. increased its holdings in PayPal by 21.2% in the second quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock worth $195,000 after purchasing an additional 588 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in PayPal by 18.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock worth $15,686,000 after purchasing an additional 36,994 shares in the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

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.