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

PayPal (NASDAQ:PYPL) had its price target lifted by Macquarie from $90.00 to $95.00 in a report published on Wednesday, Benzinga reports. Macquarie currently has an outperform rating on the credit services provider’s stock.

PYPL has been the subject of a number of other research reports. Canaccord Genuity Group upped their price objective on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley raised their price objective on PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Wednesday. William Blair upgraded PayPal to a “hold” rating in a research report on Tuesday, July 30th. Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday. Fifteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.83.

PayPal Stock Performance

PYPL opened at $77.25 on Wednesday. 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 stock’s 50 day moving average price is $76.50 and its two-hundred day moving average price is $67.69. The firm has a market capitalization of $77.45 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 1.41 and a beta of 1.43. PayPal has a 12-month low of $52.55 and a 12-month high of $83.70.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $0.97 earnings per share. On average, equities analysts forecast that PayPal will post 4.56 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. grew its stake in shares of PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. Family Firm Inc. acquired a new position in PayPal during the 2nd quarter worth $29,000. SYSTM Wealth Solutions LLC boosted its position in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares during the last quarter. Tortoise Investment Management LLC increased its stake in shares of PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after buying an additional 465 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. raised its position in shares of PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds 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.