Barclays Raises PayPal (NASDAQ:PYPL) Price Target to $92.00

PayPal (NASDAQ:PYPL) had its price objective raised by Barclays from $85.00 to $92.00 in a report issued on Friday, Benzinga reports. The firm currently has an overweight rating on the credit services provider’s stock.

Other research analysts have also recently issued research reports about the company. Evercore ISI boosted their price objective on PayPal from $65.00 to $70.00 and gave the stock an in-line rating in a research report on Tuesday, June 25th. Sanford C. Bernstein raised PayPal from a market perform rating to an outperform rating and upped their price target for the company from $71.00 to $78.00 in a research report on Wednesday, July 31st. StockNews.com cut PayPal from a buy rating to a hold rating in a research report on Thursday, September 19th. Robert W. Baird upped their price target on PayPal from $77.00 to $80.00 and gave the company an outperform rating in a research report on Wednesday, July 31st. Finally, Macquarie upped their price target on PayPal from $85.00 to $90.00 and gave the company an outperform rating in a research report on Wednesday, July 31st. Seventeen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $76.38.

PayPal Trading Down 2.7 %

Shares of PayPal stock opened at $77.88 on Friday. The stock has a fifty day simple moving average of $68.78 and a 200 day simple moving average of $65.11. PayPal has a 12-month low of $50.25 and a 12-month high of $80.63. The company has a market capitalization of $79.62 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. 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 (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the prior year, the company posted $0.83 earnings per share. PayPal’s revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts anticipate that PayPal will post 4.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Distillate Capital Partners LLC lifted its stake in shares of 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 purchasing an additional 343,687 shares during the period. Fiduciary Alliance LLC increased its position in PayPal by 604.7% during the 1st quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after buying an additional 45,544 shares in the last quarter. 1832 Asset Management L.P. increased its position in PayPal by 44.6% during the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after buying an additional 381 shares in the last quarter. Blue Trust Inc. increased its position in PayPal by 21.2% during the 2nd quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock valued at $195,000 after buying an additional 588 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in PayPal by 18.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock valued at $15,686,000 after buying an additional 36,994 shares in the last quarter. Hedge funds and other 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.