Macquarie Boosts PayPal (NASDAQ:PYPL) Price Target to $117.00

PayPal (NASDAQ:PYPL) had its target price hoisted by investment analysts at Macquarie from $115.00 to $117.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the credit services provider’s stock. Macquarie’s price target indicates a potential upside of 49.13% from the stock’s previous close.

Several other research firms have also recently issued reports on PYPL. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a report on Wednesday, February 5th. Barclays upped their price target on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Susquehanna upped their price target on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a report on Monday, January 6th. Wells Fargo & Company upped their price target on PayPal from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and boosted their target price for the company from $86.00 to $103.00 in a research note on Monday, December 9th. Thirteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.52.

PayPal Price Performance

NASDAQ:PYPL traded up $1.15 during midday trading on Monday, hitting $78.46. 4,366,086 shares of the stock were exchanged, compared to its average volume of 11,148,686. PayPal has a one year low of $56.97 and a one year high of $93.66. The company has a market capitalization of $77.61 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 1.29 and a beta of 1.44. The business has a 50-day moving average price of $87.52 and a two-hundred day moving average price of $79.79. The company has a current ratio of 1.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the company earned $1.48 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts predict that PayPal will post 5.03 EPS for the current year.

Institutional Investors Weigh In On PayPal

A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares during the period. Mizuho Securities USA LLC raised its stake in shares of PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after purchasing an additional 10,419,351 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of PayPal by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,615,476 shares of the credit services provider’s stock valued at $564,631,000 after purchasing an additional 84,337 shares in the last quarter. 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 valued at $469,414,000 after purchasing an additional 1,069,356 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of PayPal in the third quarter valued at $387,435,000. Institutional investors own 68.32% of the company’s stock.

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.