PayPal (NASDAQ:PYPL) Price Target Raised to $79.00

PayPal (NASDAQ:PYPL) had its price objective hoisted by The Goldman Sachs Group from $69.00 to $79.00 in a research report report published on Monday, Benzinga reports. They currently have a neutral rating on the credit services provider’s stock.

Several other research analysts have also recently weighed in on the company. Sanford C. Bernstein cut PayPal from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $75.00 to $80.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their target price on PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $78.00 target price on shares of PayPal in a report on Wednesday, September 18th. Robert W. Baird increased their target price on PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Barclays increased their target price on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Seventeen analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.52.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $79.82 on Monday. 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 firm has a market cap of $83.50 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.49 and a beta of 1.44. The stock’s fifty day moving average price is $73.83 and its two-hundred day moving average price is $66.50. PayPal has a one year low of $50.25 and a one year high of $82.00.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. The firm 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 quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.83 EPS. On average, equities analysts forecast that PayPal will post 4.42 EPS for the current year.

Institutional Investors Weigh In On PayPal

A number of hedge funds have recently added to or reduced their stakes in PYPL. Chicago Partners Investment Group LLC bought a new stake in PayPal in the fourth quarter worth approximately $220,000. Syon Capital LLC increased its holdings in PayPal by 6.6% in the fourth quarter. Syon Capital LLC now owns 4,654 shares of the credit services provider’s stock worth $286,000 after purchasing an additional 289 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in PayPal in the fourth quarter valued at approximately $294,000. Leo Wealth LLC acquired a new stake in PayPal in the fourth quarter valued at approximately $217,000. Finally, HighPoint Advisor Group LLC acquired a new stake in PayPal in the fourth quarter valued at approximately $839,000. 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.