PayPal (NASDAQ:PYPL) Price Target Raised to $98.00 at Citigroup

PayPal (NASDAQ:PYPL) had its price objective raised by research analysts at Citigroup from $97.00 to $98.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the credit services provider’s stock. Citigroup’s price target indicates a potential upside of 26.09% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. raised their target price on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein cut PayPal from an “outperform” rating to a “market perform” rating and raised their target price for the company from $75.00 to $80.00 in a research note on Thursday, October 10th. Barclays raised their target price on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Monness Crespi & Hardt raised their target price on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Phillip Securities reiterated an “accumulate” rating and set a $90.00 price objective (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Fourteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.16.

PayPal Price Performance

PYPL opened at $77.72 on Wednesday. The stock’s 50 day simple moving average is $88.01 and its 200 day simple moving average is $79.39. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. PayPal has a 1 year low of $55.77 and a 1 year high of $93.66. The firm has a market cap of $77.92 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.49 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $1.48 EPS. As a group, analysts predict that PayPal will post 4.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Relyea Zuckerberg Hanson LLC boosted its position in PayPal by 113.8% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after acquiring an additional 3,976 shares in the last quarter. World Investment Advisors LLC bought a new stake in PayPal during the 3rd quarter valued at $387,435,000. United Advisor Group LLC bought a new stake in PayPal during the 3rd quarter valued at $810,000. FCG Investment Co bought a new stake in PayPal during the 3rd quarter valued at $1,079,000. Finally, Equity Investment Corp boosted its position in PayPal by 3.5% during the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after acquiring an additional 67,497 shares in the last quarter. 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.