PayPal (NASDAQ:PYPL) Stock Rating Reaffirmed by The Goldman Sachs Group

PayPal (NASDAQ:PYPL)‘s stock had its “neutral” rating restated by research analysts at The Goldman Sachs Group in a research note issued to investors on Thursday, Benzinga reports. They presently have a $69.00 price objective on the credit services provider’s stock. The Goldman Sachs Group’s target price would indicate a potential downside of 10.11% from the company’s current price.

Several other research firms also recently weighed in on PYPL. Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Barclays boosted their price target on shares of PayPal from $81.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. William Blair raised shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $84.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Finally, Monness Crespi & Hardt boosted their price target on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Seventeen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.58.

PayPal Stock Performance

NASDAQ PYPL opened at $76.76 on Thursday. PayPal has a 52-week low of $50.25 and a 52-week high of $78.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $78.47 billion, a P/E ratio of 19.34, a P/E/G ratio of 1.01 and a beta of 1.43. The company has a fifty day moving average of $67.01 and a 200-day moving average of $64.38.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same period in the previous year, the firm posted $0.83 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts predict that PayPal will post 4.42 EPS for the current fiscal year.

Institutional Investors Weigh In On PayPal

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc grew its holdings in PayPal by 3.3% in the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after purchasing an additional 276,287 shares during the period. Clearbridge Investments LLC lifted its stake in shares of 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 buying an additional 1,866,925 shares in the last quarter. Primecap Management Co. CA lifted its stake in shares of PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after buying an additional 3,184,160 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of PayPal by 1.7% in the fourth quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock worth $225,283,000 after buying an additional 61,384 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of PayPal by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after buying an additional 409,322 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

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.