Royal Bank of Canada Reiterates “Outperform” Rating for PayPal (NASDAQ:PYPL)

PayPal (NASDAQ:PYPL)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a report issued on Thursday,Benzinga reports. They currently have a $100.00 price target on the credit services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 9.87% from the stock’s current price.

Several other analysts also recently commented on the stock. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $103.00 in a research report on Monday, December 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $88.00 price target on shares of PayPal in a research note on Friday, November 22nd. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. UBS Group raised their target price on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Stephens increased their price target on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $86.74.

PayPal Trading Up 1.8 %

PYPL opened at $91.02 on Thursday. PayPal has a twelve month low of $55.77 and a twelve month high of $93.66. The company has a fifty day moving average of $83.87 and a 200-day moving average of $72.23. The stock has a market cap of $91.25 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $7.88 billion. During the same period last year, the company posted $0.97 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts predict that PayPal will post 4.57 EPS for the current year.

Institutional Trading of PayPal

A number of large investors have recently bought and sold shares of the company. World Investment Advisors LLC purchased a new stake in PayPal in the 3rd quarter worth about $387,435,000. United Advisor Group LLC bought a new position in PayPal during the third quarter worth about $810,000. FCG Investment Co purchased a new position in shares of PayPal in the third quarter worth about $1,079,000. Equity Investment Corp raised its position in shares of PayPal by 3.5% in the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after purchasing an additional 67,497 shares during the period. Finally, Weil Company Inc. lifted its stake in shares of PayPal by 68.9% during the 3rd quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after buying an additional 17,003 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other 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.