PayPal (NASDAQ:PYPL) Stock Price Expected to Rise, Macquarie Analyst Says

PayPal (NASDAQ:PYPL) had its target price upped by Macquarie from $90.00 to $95.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the credit services provider’s stock.

Several other brokerages have also recently issued reports on PYPL. Royal Bank of Canada increased their price objective on PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group increased their price target on PayPal from $69.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research report on Wednesday. BMO Capital Markets raised their target price on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Oppenheimer began coverage on shares of PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Seventeen analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.03.

PayPal Stock Performance

NASDAQ PYPL opened at $78.22 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $81.82 billion, a P/E ratio of 19.70, a P/E/G ratio of 1.51 and a beta of 1.44. The stock has a 50-day moving average of $76.24 and a two-hundred day moving average of $67.48. PayPal has a 1-year low of $50.80 and a 1-year high of $83.70.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the firm posted $0.97 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts anticipate that PayPal will post 4.44 EPS for the current year.

Hedge Funds Weigh In On PayPal

A number of large investors have recently made changes to their positions in the stock. Primecap Management Co. CA boosted 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 purchasing an additional 3,184,160 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of PayPal by 28.1% during the 2nd 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 during the last quarter. International Assets Investment Management LLC boosted its position in shares of PayPal by 9,864.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock worth $87,336,000 after buying an additional 1,108,030 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in PayPal by 139.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,544,179 shares of the credit services provider’s stock valued at $120,492,000 after acquiring an additional 899,476 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in PayPal by 31.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after acquiring an additional 687,940 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.