PayPal (NASDAQ:PYPL) Given New $95.00 Price Target at Macquarie

PayPal (NASDAQ:PYPL) had its price target raised by equities research analysts at Macquarie from $90.00 to $95.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the credit services provider’s stock. Macquarie’s price target would indicate a potential upside of 19.80% from the company’s current price.

Other analysts have also issued research reports about the company. StockNews.com lowered PayPal from a “buy” rating to a “hold” rating in a report on Saturday, October 26th. Wells Fargo & Company upped their target price on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their price target on PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Stephens raised their target price on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group decreased their price target on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Seventeen analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.03.

PayPal Trading Up 1.4 %

Shares of NASDAQ PYPL opened at $79.30 on Wednesday. The business’s 50 day moving average is $76.39 and its two-hundred day moving average is $67.56. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. PayPal has a 1-year low of $50.80 and a 1-year high of $83.70. The stock has a market capitalization of $82.95 billion, a P/E ratio of 19.97, a PEG ratio of 1.51 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, research analysts expect that PayPal will post 4.44 EPS for the current year.

Hedge Funds Weigh In On PayPal

Several institutional investors have recently modified their holdings of the business. ARK Investment Management LLC lifted its position in shares of PayPal by 30.7% during the 3rd quarter. ARK Investment Management LLC now owns 186,090 shares of the credit services provider’s stock worth $14,521,000 after purchasing an additional 43,686 shares during the last quarter. Portside Wealth Group LLC raised its holdings in shares of PayPal by 16.5% in the third quarter. Portside Wealth Group LLC now owns 4,698 shares of the credit services provider’s stock valued at $367,000 after buying an additional 664 shares during the last quarter. JB Capital LLC raised its holdings in shares of PayPal by 3.0% in the third quarter. JB Capital LLC now owns 42,155 shares of the credit services provider’s stock valued at $3,289,000 after buying an additional 1,224 shares during the last quarter. Keudell Morrison Wealth Management acquired a new position in shares of PayPal during the third quarter worth about $267,000. Finally, Kornitzer Capital Management Inc. KS increased its stake in shares of PayPal by 1.9% during the third quarter. Kornitzer Capital Management Inc. KS now owns 280,012 shares of the credit services provider’s stock worth $21,849,000 after acquiring an additional 5,286 shares during the period. Institutional investors and hedge funds 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.