PayPal (NASDAQ:PYPL) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of PayPal (NASDAQ:PYPL) in a report released on Thursday morning,Benzinga reports. The brokerage currently has a $100.00 price target on the credit services provider’s stock.

A number of other research firms also recently issued reports on PYPL. StockNews.com downgraded shares of PayPal from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. BMO Capital Markets increased their price objective on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Oppenheimer started coverage on PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. Finally, Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $86.00 to $103.00 in a research note on Monday, December 9th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.74.

PayPal Stock Performance

NASDAQ:PYPL opened at $91.02 on Thursday. The company has a market cap of $91.25 billion, a P/E ratio of 21.72, a P/E/G ratio of 1.66 and a beta of 1.44. The firm’s 50 day moving average is $83.87 and its two-hundred day moving average is $72.30. PayPal has a fifty-two week low of $55.77 and a fifty-two week high of $93.66. 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 issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period last year, the company posted $0.97 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts expect that PayPal will post 4.57 EPS for the current year.

Institutional Trading of PayPal

Institutional investors have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC raised its stake in PayPal by 7.4% during the third quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after acquiring an additional 124 shares during the period. First United Bank & Trust raised its position in shares of PayPal by 6.4% during the 3rd quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after purchasing an additional 145 shares during the period. Ritholtz Wealth Management raised its position in shares of PayPal by 3.3% during the 3rd quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after purchasing an additional 152 shares during the period. Laraway Financial Advisors Inc lifted its holdings in shares of PayPal by 3.8% in the 3rd quarter. Laraway Financial Advisors Inc now owns 4,228 shares of the credit services provider’s stock worth $330,000 after purchasing an additional 154 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC boosted its position in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares during the period. 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.