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

PayPal (NASDAQ:PYPL) had its target price increased by equities researchers at Citigroup from $94.00 to $97.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the credit services provider’s stock. Citigroup’s target price points to a potential upside of 11.23% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company upped their price objective on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group boosted their price target on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. UBS Group increased their price objective on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $100.00 target price on shares of PayPal in a research note on Thursday, December 12th. Fourteen research 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.16.

PayPal Stock Up 3.8 %

NASDAQ PYPL traded up $3.22 on Tuesday, hitting $87.21. 5,436,839 shares of the stock traded hands, compared to its average volume of 7,210,583. The company has a market capitalization of $87.43 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The stock has a 50-day moving average of $86.75 and a 200 day moving average of $76.10. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal has a twelve month low of $55.77 and a twelve month high of $93.66.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the business posted $0.97 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts expect that PayPal will post 4.57 earnings per share for the current fiscal year.

Institutional Trading of PayPal

Large investors have recently made changes to their positions in the stock. Rosenberg Matthew Hamilton grew its stake in PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after buying an additional 125 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in shares of PayPal in the third quarter worth about $26,000. Sugarloaf Wealth Management LLC lifted its position in shares of PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Planning Capital Management Corp grew its holdings in PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after buying an additional 268 shares during the last quarter. Finally, Financial Management Professionals Inc. increased its position in PayPal by 125.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after buying an additional 243 shares during the period. Institutional investors own 68.32% of the company’s stock.

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.