PayPal (NASDAQ:PYPL) Rating Reiterated by Mizuho

Mizuho reaffirmed their outperform rating on shares of PayPal (NASDAQ:PYPL) in a report published on Tuesday, Benzinga reports. The firm currently has a $90.00 price target on the credit services provider’s stock.

Several other equities analysts have also issued reports on PYPL. Wells Fargo & Company raised their price objective on PayPal from $65.00 to $70.00 and gave the stock an equal weight rating in a report on Wednesday, July 31st. UBS Group increased their target price on shares of PayPal from $71.00 to $72.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. Sanford C. Bernstein upgraded shares of PayPal from a market perform rating to an outperform rating and increased their target price for the stock from $71.00 to $78.00 in a research note on Wednesday, July 31st. Macquarie increased their target price on shares of PayPal from $85.00 to $90.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. Finally, William Blair upgraded shares of PayPal to a hold rating in a research note on Tuesday, July 30th. Seventeen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PayPal presently has an average rating of Moderate Buy and a consensus price target of $75.56.

PayPal Stock Up 0.3 %

NASDAQ:PYPL opened at $71.70 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average is $62.00 and its two-hundred day moving average is $62.68. PayPal has a 52 week low of $50.25 and a 52 week high of $73.25. The stock has a market capitalization of $73.30 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 0.97 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.83 earnings per share. Research analysts anticipate that PayPal will post 4.42 EPS for the current year.

Hedge Funds Weigh In On PayPal

Several large investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of PayPal in the fourth quarter valued at about $749,561,000. Legal & General Group Plc increased its position in PayPal by 3.3% during 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 acquiring an additional 276,287 shares during the period. Charles Schwab Investment Management Inc. increased its position in PayPal by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock worth $428,449,000 after acquiring an additional 265,116 shares during the period. Clearbridge Investments LLC increased its position in PayPal by 15.8% during the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after acquiring an additional 904,804 shares during the period. Finally, Primecap Management Co. CA increased its position in PayPal by 180.7% during 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 acquiring an additional 3,184,160 shares during the period. 68.32% of the stock is 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.