PayPal (NASDAQ:PYPL) Price Target Raised to $110.00

PayPal (NASDAQ:PYPL) had its target price increased by Barclays from $92.00 to $110.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the credit services provider’s stock.

PYPL has been the subject of a number of other reports. Sanford C. Bernstein cut shares of PayPal from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. Stephens increased their target price on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Phillip Securities restated an “accumulate” rating and issued a $90.00 price target (up from $80.00) on shares of PayPal in a research note on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Finally, Oppenheimer started coverage on shares of PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Fifteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.42.

PayPal Stock Up 1.6 %

PYPL opened at $86.78 on Tuesday. PayPal has a 1-year low of $55.77 and a 1-year high of $93.66. The firm’s 50 day simple moving average is $84.52 and its two-hundred day simple moving average is $72.96. 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 company has a market capitalization of $87.00 billion, a PE ratio of 20.71, a PEG ratio of 1.66 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating 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 company had revenue of $7.85 billion for 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. PayPal’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts forecast that PayPal will post 4.57 EPS for the current year.

Institutional Trading of PayPal

Several hedge funds have recently modified their holdings of the company. FMR LLC lifted its holdings in shares of PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after purchasing an additional 7,767,072 shares during the last quarter. Mizuho Securities USA LLC lifted its position in PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after acquiring an additional 10,419,351 shares during the period. Legal & General Group Plc grew its stake in PayPal by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after purchasing an additional 276,287 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of PayPal by 28.1% in the second 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. Finally, Primecap Management Co. CA raised its stake in shares of PayPal by 21.6% in the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after purchasing an additional 1,069,356 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other 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.