PayPal (NASDAQ:PYPL) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

PayPal (NASDAQ:PYPL) had its target price boosted by stock analysts at Canaccord Genuity Group from $80.00 to $96.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the credit services provider’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 21.06% from the company’s current price.

Several other research firms also recently issued reports on PYPL. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. Royal Bank of Canada boosted their price objective on shares of PayPal from $84.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of PayPal from a “buy” rating to a “hold” rating in a research report on Saturday, October 26th. Finally, Jefferies Financial Group reduced their target price on shares of PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Seventeen analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and an average price target of $82.03.

PayPal Price Performance

PayPal stock opened at $79.30 on Wednesday. PayPal has a 1 year low of $50.80 and a 1 year high of $83.70. The firm has a 50 day moving average price of $76.39 and a 200 day moving average price of $67.56. The company has a market cap of $82.95 billion, a price-to-earnings ratio of 19.97, a PEG 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 released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the previous year, the firm earned $0.97 earnings per share. PayPal’s revenue was up 6.0% compared to the same quarter last year. Sell-side analysts predict that PayPal will post 4.44 earnings per share for the current year.

Hedge Funds Weigh In On PayPal

Several large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its stake in PayPal by 18.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock valued at $15,686,000 after buying an additional 36,994 shares in the last quarter. Norden Group LLC lifted its stake in PayPal by 197.3% during the first quarter. Norden Group LLC now owns 82,620 shares of the credit services provider’s stock valued at $5,535,000 after buying an additional 54,832 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in PayPal by 23.3% during the first quarter. First Trust Direct Indexing L.P. now owns 23,463 shares of the credit services provider’s stock valued at $1,572,000 after buying an additional 4,434 shares in the last quarter. Van ECK Associates Corp lifted its stake in PayPal by 33.8% during the first quarter. Van ECK Associates Corp now owns 77,308 shares of the credit services provider’s stock valued at $5,179,000 after buying an additional 19,510 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in PayPal by 14.2% during the first quarter. Private Advisor Group LLC now owns 168,866 shares of the credit services provider’s stock valued at $11,312,000 after buying an additional 21,047 shares in the last quarter. 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.