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

PayPal (NASDAQ:PYPL) had its price target lifted by research analysts at Macquarie from $95.00 to $115.00 in a report released on Tuesday,Briefing.com Automated Import reports. The brokerage currently has an “outperform” rating on the credit services provider’s stock. Macquarie’s price target would indicate a potential upside of 25.96% from the company’s current price.

Several other equities analysts have also recently commented on PYPL. Wells Fargo & Company raised their price target on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Wolfe Research raised PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Mizuho lifted their price target on PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Robert W. Baird increased their price objective on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.39.

PayPal Trading Up 0.3 %

Shares of PayPal stock opened at $91.30 on Tuesday. PayPal has a twelve month low of $55.77 and a twelve month high of $93.66. The firm’s 50-day moving average price is $84.09 and its 200 day moving average price is $72.58. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $91.53 billion, a PE ratio of 21.79, a P/E/G ratio of 1.66 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts predict that PayPal will post 4.57 EPS for the current fiscal year.

Institutional Trading of PayPal

Large investors have recently added to or reduced their stakes in the business. Summit Global Investments raised its holdings in PayPal by 60.4% during the second quarter. Summit Global Investments now owns 10,681 shares of the credit services provider’s stock worth $620,000 after purchasing an additional 4,023 shares in the last quarter. Fifth Third Bancorp raised its position in shares of PayPal by 9.7% during the second quarter. Fifth Third Bancorp now owns 38,815 shares of the credit services provider’s stock worth $2,252,000 after purchasing an additional 3,418 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in shares of PayPal in the second quarter worth approximately $636,000. Lecap Asset Management Ltd. purchased a new stake in shares of PayPal in the 2nd quarter valued at approximately $335,000. Finally, Griffin Asset Management Inc. increased its holdings in PayPal by 4.2% in the second quarter. Griffin Asset Management Inc. now owns 4,931 shares of the credit services provider’s stock worth $286,000 after buying an additional 200 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.