PayPal (NASDAQ:PYPL) Price Target Raised to $96.00

PayPal (NASDAQ:PYPL) had its price objective boosted by research analysts at Canaccord Genuity Group from $80.00 to $96.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the credit services provider’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 21.06% from the company’s previous close.

PYPL has been the subject of a number of other reports. 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 research note on Thursday, October 17th. Macquarie lifted their target price on shares of PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. TD Cowen lifted their target price on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein cut shares of PayPal from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $75.00 to $80.00 in a research note on Thursday, October 10th. Finally, Jefferies Financial Group dropped their price target on shares of PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Seventeen analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.03.

PayPal Price Performance

NASDAQ PYPL opened at $79.30 on Wednesday. The company has a 50 day simple moving average of $76.39 and a 200-day simple moving average of $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. The firm has a market capitalization of $82.95 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. PayPal has a 52-week low of $50.80 and a 52-week high of $83.70.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. Equities research analysts predict that PayPal will post 4.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PayPal

Institutional investors and hedge funds have recently made changes to their positions in the company. Pittenger & Anderson Inc. boosted its stake in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares in the last quarter. Financial Management Professionals Inc. boosted its stake in shares of PayPal by 125.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 243 shares in the last quarter. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of PayPal by 65.8% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 185 shares in the last quarter. Family Firm Inc. acquired a new position in PayPal during the 2nd quarter worth about $29,000. Finally, SYSTM Wealth Solutions LLC lifted 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 worth $29,000 after buying an additional 167 shares in 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.