PayPal (NASDAQ:PYPL) Price Target Raised to $94.00

PayPal (NASDAQ:PYPL) had its target price upped by Susquehanna from $83.00 to $94.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a positive rating on the credit services provider’s stock.

Other equities research analysts also recently issued research reports about the company. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $84.00 target price on shares of PayPal in a research report on Wednesday, July 31st. Morgan Stanley increased their price target on PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Wednesday. TD Cowen increased their price target on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company upped their price objective on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.29.

PayPal Stock Performance

PayPal stock opened at $77.25 on Wednesday. The firm has a market capitalization of $77.45 billion, a P/E ratio of 18.44, a PEG ratio of 1.40 and a beta of 1.44. The stock has a fifty day moving average price of $76.50 and a 200 day moving average price of $67.66. PayPal has a 52 week low of $52.55 and a 52 week high of $83.70. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that PayPal will post 4.54 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

A number of institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of PayPal by 18.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock valued at $15,686,000 after buying an additional 36,994 shares in the last quarter. Norden Group LLC grew its holdings in PayPal by 197.3% in the 1st quarter. Norden Group LLC now owns 82,620 shares of the credit services provider’s stock worth $5,535,000 after acquiring an additional 54,832 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in PayPal by 23.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 23,463 shares of the credit services provider’s stock worth $1,572,000 after acquiring an additional 4,434 shares during the last quarter. Van ECK Associates Corp grew its holdings in PayPal by 33.8% in the 1st quarter. Van ECK Associates Corp now owns 77,308 shares of the credit services provider’s stock worth $5,179,000 after acquiring an additional 19,510 shares during the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of PayPal by 14.2% in the 1st quarter. Private Advisor Group LLC now owns 168,866 shares of the credit services provider’s stock worth $11,312,000 after purchasing an additional 21,047 shares during the period. 68.32% of the stock is owned by institutional investors.

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.