PayPal (NASDAQ:PYPL) Price Target Raised to $89.00

PayPal (NASDAQ:PYPL) had its price objective hoisted by Royal Bank of Canada from $84.00 to $89.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the credit services provider’s stock.

A number of other equities research analysts have also recently commented on the stock. Stephens increased their target price on shares of PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. 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. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price objective on shares of PayPal in a research note on Wednesday, July 31st. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $68.00 to $72.00 in a research note on Friday, August 9th. Finally, UBS Group raised their target price on shares of PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday. Seventeen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.29.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $77.25 on Wednesday. The company’s fifty day moving average price is $76.50 and its 200 day moving average price is $67.66. PayPal has a 1 year low of $52.55 and a 1 year high of $83.70. The company has a market capitalization of $77.45 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.40 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.24 and a current ratio of 1.25.

PayPal (NASDAQ:PYPL) last announced 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 firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 earnings per share. On average, research analysts predict that PayPal will post 4.54 earnings per share for the current year.

Institutional Trading of PayPal

Several large investors have recently made changes to their positions in PYPL. Legal & General Group Plc boosted its holdings in PayPal by 3.3% in the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after acquiring an additional 276,287 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares during the period. Primecap Management Co. CA raised its position in shares of PayPal by 180.7% during the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after purchasing an additional 3,184,160 shares during the period. Dimensional Fund Advisors LP raised its position in PayPal by 14.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock valued at $183,789,000 after buying an additional 409,322 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in PayPal by 5.1% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock valued at $176,789,000 after buying an additional 146,643 shares during the last quarter. 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.