PayPal (NASDAQ:PYPL) Price Target Raised to $115.00 at Macquarie

PayPal (NASDAQ:PYPL) had its target price boosted by Macquarie from $95.00 to $115.00 in a report published on Tuesday morning, Marketbeat Ratings reports. They currently have an outperform rating on the credit services provider’s stock.

A number of other research firms have also weighed in on PYPL. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Susquehanna upped their price objective on shares of PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Oppenheimer began coverage on shares of PayPal in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. The Goldman Sachs Group upped their price target on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a report on Saturday. Fifteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $87.97.

PayPal Stock Performance

NASDAQ PYPL opened at $90.86 on Tuesday. The firm’s fifty day moving average price is $84.29 and its two-hundred day moving average price is $72.78. PayPal has a 1 year low of $55.77 and a 1 year high of $93.66. The firm has a market capitalization of $91.09 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion during 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 revenue was up 6.0% on a year-over-year basis. During the same period last year, the business posted $0.97 EPS. As a group, research analysts anticipate that PayPal will post 4.57 EPS for the current year.

Institutional Trading of PayPal

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC raised its stake in PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in shares of PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after purchasing an additional 10,419,351 shares during the last quarter. Legal & General Group Plc increased its position in PayPal by 3.3% during the 2nd 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 in the last quarter. Clearbridge Investments LLC lifted its stake in PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares during the last quarter. Finally, Primecap Management Co. CA boosted its position in PayPal by 21.6% in the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after buying an additional 1,069,356 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

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.