PayPal (NASDAQ:PYPL) Price Target Raised to $98.00 at Citigroup

PayPal (NASDAQ:PYPL) had its price objective upped by analysts at Citigroup from $97.00 to $98.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the credit services provider’s stock. Citigroup’s target price points to a potential upside of 26.09% from the stock’s current price.

A number of other analysts have also commented on PYPL. Keefe, Bruyette & Woods lifted their price target on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Monness Crespi & Hardt lifted their price target on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Canaccord Genuity Group raised their price objective on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays raised their price objective on PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Macquarie raised their price objective on PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Fourteen research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.16.

PayPal Stock Performance

PYPL opened at $77.72 on Wednesday. The firm has a market cap of $77.92 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44. PayPal has a 52-week low of $55.77 and a 52-week high of $93.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The business’s fifty day moving average is $88.01 and its 200-day moving average is $79.39.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. PayPal’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.48 EPS. Sell-side analysts expect that PayPal will post 4.58 EPS for the current fiscal year.

Institutional Trading of PayPal

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its holdings in shares of PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after buying an additional 7,767,072 shares in the last quarter. Mizuho Securities USA LLC raised 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 buying an additional 10,419,351 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of PayPal by 21.6% during the 3rd 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. World Investment Advisors LLC purchased a new position in shares of PayPal during the 3rd quarter valued at about $387,435,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of PayPal by 174.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after buying an additional 2,689,162 shares in the last quarter. 68.32% of the stock is currently owned by 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.