PayPal (NASDAQ:PYPL) Given New $79.00 Price Target at The Goldman Sachs Group

PayPal (NASDAQ:PYPL) had its price objective upped by The Goldman Sachs Group from $69.00 to $79.00 in a report published on Monday morning, Benzinga reports. They currently have a neutral rating on the credit services provider’s stock.

A number of other analysts have also weighed in on PYPL. Daiwa Capital Markets upgraded shares of PayPal from a neutral rating to an outperform rating and upped their target price for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. Keefe, Bruyette & Woods restated an outperform rating and issued a $78.00 price objective on shares of PayPal in a report on Wednesday, September 18th. TD Cowen boosted their target price on shares of PayPal from $68.00 to $70.00 and gave the stock a hold rating in a research note on Wednesday, July 31st. Barclays raised their price target on PayPal from $85.00 to $92.00 and gave the company an overweight rating in a research note on Friday, September 27th. Finally, UBS Group upped their price objective on PayPal from $71.00 to $72.00 and gave the stock a neutral rating in a research report on Wednesday, July 31st. Seventeen investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, PayPal presently has a consensus rating of Moderate Buy and a consensus price target of $77.35.

PayPal Stock Up 0.2 %

PayPal stock opened at $80.67 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50 day moving average price of $72.82 and a 200 day moving average price of $66.22. PayPal has a fifty-two week low of $50.25 and a fifty-two week high of $82.00. The company has a market capitalization of $84.38 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44.

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

Institutional Investors Weigh In On PayPal

Several hedge funds have recently made changes to their positions in the business. Legal & General Group Plc lifted its position in PayPal by 3.3% during the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after buying an additional 276,287 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after acquiring an additional 1,866,925 shares during the period. Primecap Management Co. CA boosted its position in shares of PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after acquiring an additional 3,184,160 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in PayPal by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock valued at $183,789,000 after purchasing an additional 409,322 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in PayPal by 5.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock worth $176,789,000 after purchasing an additional 146,643 shares during the last quarter. 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.