Macquarie Issues Positive Forecast for PayPal (NASDAQ:PYPL) Stock Price

PayPal (NASDAQ:PYPL) had its target price hoisted by Macquarie from $90.00 to $95.00 in a research note issued to investors on Wednesday, Benzinga reports. Macquarie currently has an outperform rating on the credit services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and raised their target price for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Susquehanna raised their price objective on PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a report on Wednesday. William Blair upgraded PayPal to a “hold” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their target price on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company boosted their price target on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Seventeen investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.03.

PayPal Trading Down 2.6 %

Shares of NASDAQ:PYPL opened at $78.22 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal has a 12-month low of $50.80 and a 12-month high of $83.70. The business has a 50 day moving average of $76.24 and a two-hundred day moving average of $67.48. The company has a market capitalization of $81.82 billion, a PE ratio of 19.70, a PEG ratio of 1.51 and a beta of 1.44.

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

Institutional Trading of PayPal

Hedge funds have recently made changes to their positions in the company. FCG Investment Co purchased a new position in PayPal in the third quarter worth approximately $1,079,000. Brown Financial Advisors acquired a new position in shares of PayPal in the 2nd quarter valued at $1,454,000. Cape Cod Five Cents Savings Bank purchased a new position in shares of PayPal during the 2nd quarter worth $3,014,000. Distillate Capital Partners LLC raised its holdings in PayPal by 156,934.7% in the 2nd quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock valued at $19,957,000 after buying an additional 343,687 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in PayPal by 44.6% during the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after buying an additional 381 shares during the period. Hedge funds and other institutional investors 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.