Mizuho Raises PayPal (NASDAQ:PYPL) Price Target to $100.00

PayPal (NASDAQ:PYPL) had its price objective boosted by Mizuho from $90.00 to $100.00 in a research report report published on Monday, MarketBeat.com reports. Mizuho currently has an outperform rating on the credit services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Barclays lifted their price objective on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Susquehanna lifted their price objective on PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a report on Wednesday, July 31st. TD Cowen lifted their price objective on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Seventeen equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average target price of $77.35.

PayPal Stock Up 1.6 %

PYPL stock opened at $80.82 on Monday. PayPal has a twelve month low of $50.25 and a twelve month high of $82.00. The company has a market cap of $84.54 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44. The business’s 50-day simple moving average is $73.52 and its 200 day simple moving average is $66.41. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $7.89 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 earnings per share. On average, research analysts anticipate that PayPal will post 4.42 earnings per share for the current year.

Institutional Trading of PayPal

Several institutional investors and hedge funds have recently made changes to their positions in PYPL. Legal & General Group Plc grew 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 period. Clearbridge Investments LLC grew its holdings in shares of PayPal by 28.1% in the 2nd 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 during the period. Primecap Management Co. CA grew its holdings in shares of PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after buying an additional 3,184,160 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of PayPal by 14.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock valued at $183,789,000 after buying an additional 409,322 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of PayPal by 5.1% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock valued at $176,789,000 after buying an additional 146,643 shares during the period. Institutional investors own 68.32% of the company’s stock.

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.