Phillip Securities Reaffirms “Accumulate” Rating for PayPal (NASDAQ:PYPL)

PayPal (NASDAQ:PYPL)‘s stock had its “accumulate” rating reissued by equities research analysts at Phillip Securities in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $90.00 price target on the credit services provider’s stock, up from their prior price target of $80.00. Phillip Securities’ target price indicates a potential upside of 15.76% from the stock’s current price.

A number of other research firms also recently weighed in on PYPL. Macquarie increased their price objective on PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday. BMO Capital Markets lifted their price objective on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday. Wells Fargo & Company raised their target price on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Morgan Stanley increased their target price on shares of PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Robert W. Baird upped their price target on PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday. Seventeen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $82.29.

PayPal Stock Performance

Shares of PayPal stock traded down $1.55 on Friday, hitting $77.75. The stock had a trading volume of 7,500,945 shares, compared to its average volume of 13,614,497. The business’s 50 day moving average is $76.39 and its two-hundred day moving average is $67.56. The stock has a market cap of $77.95 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 1.40 and a beta of 1.44. PayPal has a twelve month low of $52.55 and a twelve month high of $83.70. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the previous year, the business earned $0.97 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Analysts forecast that PayPal will post 4.54 EPS for the current year.

Institutional Investors Weigh In On PayPal

Institutional investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA lifted its holdings in PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after buying an additional 3,184,160 shares during the period. Clearbridge Investments LLC increased its position in PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares during the period. International Assets Investment Management LLC boosted its stake in shares of PayPal by 9,864.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock valued at $87,336,000 after purchasing an additional 1,108,030 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in PayPal by 139.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,544,179 shares of the credit services provider’s stock worth $120,492,000 after buying an additional 899,476 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of PayPal by 31.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock worth $194,262,000 after acquiring an additional 687,940 shares during the period. 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.