Macquarie Boosts PayPal (NASDAQ:PYPL) Price Target to $117.00

PayPal (NASDAQ:PYPL) had its price objective increased by equities researchers at Macquarie from $115.00 to $117.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the credit services provider’s stock. Macquarie’s target price indicates a potential upside of 49.13% from the stock’s current price.

Several other analysts have also commented on the stock. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Mizuho boosted their price target on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Monness Crespi & Hardt boosted their price target on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Stephens boosted their price objective on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, Piper Sandler upped their price target on shares of PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Thirteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and a consensus target price of $90.52.

PayPal Price Performance

NASDAQ:PYPL traded up $1.15 on Monday, hitting $78.46. The company had a trading volume of 4,366,086 shares, compared to its average volume of 11,148,686. The stock has a market capitalization of $77.61 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.29 and a beta of 1.44. The company has a current ratio of 1.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $87.52 and a two-hundred day moving average of $79.79. PayPal has a 52 week low of $56.97 and a 52 week high of $93.66.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. PayPal’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.48 earnings per share. On average, research analysts anticipate that PayPal will post 5.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sienna Gestion grew its holdings in shares of PayPal by 1,455.8% in the fourth quarter. Sienna Gestion now owns 111,038 shares of the credit services provider’s stock valued at $9,476,000 after purchasing an additional 103,901 shares in the last quarter. Midwest Professional Planners LTD. grew its holdings in shares of PayPal by 48.4% in the fourth quarter. Midwest Professional Planners LTD. now owns 9,143 shares of the credit services provider’s stock valued at $780,000 after purchasing an additional 2,980 shares in the last quarter. Left Brain Wealth Management LLC purchased a new position in shares of PayPal in the fourth quarter valued at $283,000. Wellington Shields Capital Management LLC grew its holdings in shares of PayPal by 9.8% in the fourth quarter. Wellington Shields Capital Management LLC now owns 11,220 shares of the credit services provider’s stock valued at $958,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Atala Financial Inc purchased a new position in PayPal during the fourth quarter worth $1,584,000. 68.32% of the stock is owned by hedge funds and other 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.