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

PayPal (NASDAQ:PYPL) had its target price raised by Macquarie from $95.00 to $115.00 in a research report report published on Tuesday morning, MarketBeat.com reports. Macquarie currently has an outperform rating on the credit services provider’s stock.

Several other equities research analysts also recently weighed in on the company. Piper Sandler reissued a “neutral” rating and set a $88.00 price objective on shares of PayPal in a report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Monness Crespi & Hardt lifted their target price on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Barclays raised their price target on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Finally, Wolfe Research raised shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective on the stock in a research note on Friday, December 13th. Fifteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.42.

PayPal Price Performance

Shares of PYPL stock opened at $86.78 on Tuesday. The business has a fifty day simple moving average of $84.52 and a 200 day simple moving average of $72.96. The company has a market cap of $87.00 billion, a P/E ratio of 20.71, a P/E/G 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 has a twelve month low of $55.77 and a twelve month high of $93.66.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The company 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%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $0.97 EPS. On average, sell-side analysts forecast that PayPal will post 4.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PYPL. Bruce G. Allen Investments LLC lifted its position in PayPal by 7.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock valued at $141,000 after acquiring an additional 124 shares in the last quarter. First United Bank & Trust raised its stake in shares of PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after purchasing an additional 145 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in shares of PayPal by 3.3% in the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock valued at $369,000 after purchasing an additional 152 shares in the last quarter. Laraway Financial Advisors Inc boosted its position in shares of PayPal by 3.8% during the third quarter. Laraway Financial Advisors Inc now owns 4,228 shares of the credit services provider’s stock valued at $330,000 after buying an additional 154 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC grew its holdings in PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares in the last quarter. 68.32% of the stock is currently 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.