Macquarie Issues Positive Forecast for PayPal (NASDAQ:PYPL) Stock Price

PayPal (NASDAQ:PYPL) had its price objective boosted by Macquarie from $95.00 to $115.00 in a report released on Tuesday, MarketBeat Ratings reports. They currently have an outperform rating on the credit services provider’s stock.

Several other equities research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Wells Fargo & Company lifted their price objective on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Barclays upped their target price on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Piper Sandler reiterated a “neutral” rating and set a $88.00 price target on shares of PayPal in a research note on Friday, November 22nd. Finally, Monness Crespi & Hardt boosted their price target on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.97.

PayPal Stock Performance

PYPL opened at $90.86 on Tuesday. PayPal has a 12-month low of $55.77 and a 12-month high of $93.66. The firm has a market capitalization of $91.09 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The stock’s 50 day moving average price is $84.29 and its two-hundred day moving average price is $72.78. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 earnings per share. On average, equities analysts forecast that PayPal will post 4.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. World Investment Advisors LLC bought a new stake in PayPal in the 3rd quarter valued at approximately $387,435,000. United Advisor Group LLC acquired a new stake in shares of PayPal in the third quarter valued at approximately $810,000. FCG Investment Co bought a new stake in shares of PayPal in the third quarter worth $1,079,000. Equity Investment Corp boosted its holdings in PayPal by 3.5% during the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock worth $155,927,000 after purchasing an additional 67,497 shares during the last quarter. Finally, Weil Company Inc. grew its position in PayPal by 68.9% in the third quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after purchasing an additional 17,003 shares in the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

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.