PayPal (NASDAQ:PYPL) Price Target Raised to $97.00

PayPal (NASDAQ:PYPL) had its target price increased by Citigroup from $94.00 to $97.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the credit services provider’s stock. Citigroup’s target price indicates a potential upside of 11.23% from the company’s current price.

PYPL has been the topic of several other research reports. The Goldman Sachs Group boosted their price target on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods increased their target price on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Morgan Stanley boosted their price target on shares of PayPal from $76.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 target price on shares of PayPal in a research note on Thursday, December 12th. Finally, Oppenheimer assumed coverage on PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.16.

PayPal Stock Performance

PayPal stock traded up $3.22 during trading hours on Tuesday, hitting $87.21. The stock had a trading volume of 5,436,839 shares, compared to its average volume of 7,210,583. PayPal has a fifty-two week low of $55.77 and a fifty-two week high of $93.66. The company has a market cap of $87.43 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The company has a 50-day moving average of $86.75 and a two-hundred day moving average of $76.10. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the previous year, the company earned $0.97 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that PayPal will post 4.57 EPS for the current fiscal year.

Hedge Funds Weigh In On PayPal

A number of large investors have recently added to or reduced their stakes in PYPL. FMR LLC raised its holdings 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 raised its stake 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 worth $819,315,000 after purchasing an additional 10,419,351 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of PayPal by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after buying an additional 276,287 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares in the last quarter. Finally, Primecap Management Co. CA increased its holdings in PayPal by 21.6% during the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after buying an additional 1,069,356 shares during the last quarter. 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.