PayPal (NASDAQ:PYPL) Price Target Increased to $110.00 by Analysts at Monness Crespi & Hardt

PayPal (NASDAQ:PYPL) had its price target hoisted by analysts at Monness Crespi & Hardt from $95.00 to $110.00 in a report released on Monday, StockNewsAPI reports. The brokerage currently has a “buy” rating on the credit services provider’s stock. Monness Crespi & Hardt’s target price would suggest a potential upside of 33.04% from the stock’s current price.

PYPL has been the subject of a number of other research reports. The Goldman Sachs Group lifted their target price on PayPal from $69.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Barclays lifted their price objective on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 price target on shares of PayPal in a report on Wednesday, September 18th. Jefferies Financial Group reduced their price target on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Finally, Oppenheimer assumed coverage on shares of PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. Seventeen research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.77.

PayPal Price Performance

PYPL opened at $82.68 on Monday. PayPal has a 1 year low of $50.58 and a 1 year high of $82.80. The stock has a 50-day moving average price of $75.65 and a 200-day moving average price of $67.17. The firm has a market cap of $86.49 billion, a PE ratio of 20.83, a P/E/G ratio of 1.50 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.20. The firm had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Sell-side analysts predict that PayPal will post 4.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PayPal

Institutional investors and hedge funds have recently modified their holdings of the stock. Primecap Management Co. CA increased its holdings in PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after acquiring an additional 3,184,160 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of PayPal by 28.1% during 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 in the last quarter. International Assets Investment Management LLC increased its holdings in shares of PayPal by 9,864.9% in the third quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock worth $87,336,000 after purchasing an additional 1,108,030 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of PayPal by 31.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock worth $194,262,000 after buying an additional 687,940 shares in the last quarter. Finally, Swedbank AB bought a new position in PayPal during the first quarter valued at approximately $42,297,000. 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.