PayPal (NASDAQ:PYPL) Price Target Raised to $87.00 at The Goldman Sachs Group

PayPal (NASDAQ:PYPL) had its price objective upped by The Goldman Sachs Group from $79.00 to $87.00 in a report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the credit services provider’s stock.

Other research analysts have also recently issued reports about the stock. Macquarie increased their price target on shares of PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday. Royal Bank of Canada lifted their target price on shares of PayPal from $84.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday. Susquehanna upped their price target on shares of PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research report on Wednesday. William Blair upgraded PayPal to a “hold” rating in a report on Tuesday, July 30th. Finally, Mizuho boosted their target price on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Seventeen analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and an average target price of $82.03.

PayPal Stock Performance

NASDAQ PYPL opened at $78.22 on Wednesday. PayPal has a 52-week low of $50.80 and a 52-week high of $83.70. The company has a fifty day moving average of $76.24 and a 200-day moving average of $67.48. The company has a market capitalization of $81.82 billion, a P/E ratio of 19.70, a P/E/G ratio of 1.51 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.12. The firm had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share. As a group, equities research analysts predict that PayPal will post 4.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Bruce G. Allen Investments LLC raised its holdings in PayPal by 7.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 124 shares during the period. First United Bank & Trust increased its position in PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after buying an additional 145 shares in the last quarter. Ritholtz Wealth Management raised its stake in shares of PayPal by 3.3% in the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after buying an additional 152 shares during the period. SYSTM Wealth Solutions LLC raised its stake in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares during the period. Finally, First Bank & Trust lifted its position in shares of PayPal by 4.4% during the 3rd quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock valued at $313,000 after buying an additional 171 shares in the last quarter. Hedge funds and other 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.