PayPal (NASDAQ:PYPL) Price Target Raised to $85.00

PayPal (NASDAQ:PYPL) had its price objective lifted by Stephens from $75.00 to $85.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an equal weight rating on the credit services provider’s stock.

PYPL has been the subject of several other reports. The Goldman Sachs Group boosted their price target on PayPal from $69.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. StockNews.com lowered PayPal from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Macquarie upped their target price on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and upped their target price for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Finally, TD Cowen upped their target price on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.03.

PayPal Trading Up 1.4 %

Shares of NASDAQ PYPL opened at $80.94 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $74.16 and a two-hundred day simple moving average of $66.63. The firm has a market cap of $84.67 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.47 and a beta of 1.44. PayPal has a twelve month low of $50.25 and a twelve month high of $82.00.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 EPS. Analysts expect that PayPal will post 4.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PayPal

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Penn Davis Mcfarland Inc. increased its holdings in shares of PayPal by 17.5% in the third quarter. Penn Davis Mcfarland Inc. now owns 625,015 shares of the credit services provider’s stock valued at $48,770,000 after purchasing an additional 92,924 shares during the last quarter. Vest Financial LLC acquired a new stake in shares of PayPal in the third quarter valued at approximately $477,000. OLD National Bancorp IN increased its holdings in shares of PayPal by 25.1% in the third quarter. OLD National Bancorp IN now owns 91,554 shares of the credit services provider’s stock valued at $7,144,000 after purchasing an additional 18,383 shares during the last quarter. CNB Bank increased its holdings in shares of PayPal by 3.0% in the third quarter. CNB Bank now owns 10,447 shares of the credit services provider’s stock valued at $815,000 after purchasing an additional 306 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI grew its position in PayPal by 2.2% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 159,656 shares of the credit services provider’s stock worth $12,458,000 after acquiring an additional 3,379 shares during the period. Institutional investors and hedge funds 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.