PayPal (NASDAQ:PYPL) Price Target Raised to $97.00 at Citigroup

PayPal (NASDAQ:PYPL) had its target price boosted by Citigroup from $94.00 to $97.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the credit services provider’s stock.

A number of other equities analysts have also recently issued reports on the stock. Monness Crespi & Hardt raised their price objective on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Barclays increased their price target on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $86.00 to $103.00 in a research note on Monday, December 9th. Robert W. Baird increased their target price on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler restated a “neutral” rating and set a $88.00 target price on shares of PayPal in a research report on Friday, November 22nd. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.16.

PayPal Stock Up 3.8 %

NASDAQ PYPL opened at $87.18 on Tuesday. The stock has a market capitalization of $87.40 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. PayPal has a 52 week low of $55.77 and a 52 week high of $93.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a fifty day moving average of $86.91 and a 200-day moving average of $76.31.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company’s quarterly 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. On average, equities research analysts forecast that PayPal will post 4.57 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Mizuho Securities USA LLC raised its holdings in PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after acquiring an additional 10,419,351 shares in the last quarter. FMR LLC increased its position in shares of PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares during the period. World Investment Advisors LLC bought a new stake in PayPal during the third quarter worth about $387,435,000. Primecap Management Co. CA lifted its position in 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. Finally, Clearbridge Investments LLC grew its stake in 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 buying an additional 1,866,925 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

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.