PayPal’s (PYPL) Neutral Rating Reaffirmed at The Goldman Sachs Group

PayPal (NASDAQ:PYPL)‘s stock had its “neutral” rating reaffirmed by analysts at The Goldman Sachs Group in a research note issued on Thursday, Benzinga reports. They presently have a $69.00 price objective on the credit services provider’s stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 5.63% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $84.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Macquarie raised their target price on shares of PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Mizuho reissued an “outperform” rating and set a $90.00 price target on shares of PayPal in a research report on Tuesday, August 20th. Robert W. Baird raised their price objective on PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Seventeen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.58.

PayPal Trading Up 1.9 %

PayPal stock opened at $73.12 on Thursday. The company has a market cap of $76.49 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 1.00 and a beta of 1.43. The firm has a 50-day moving average of $66.33 and a 200-day moving average of $64.17. 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 has a one year low of $50.25 and a one year high of $74.40.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same period last year, the company earned $0.83 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. On average, equities analysts expect that PayPal will post 4.42 earnings per share for the current fiscal year.

Institutional Trading of PayPal

A number of hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its position in PayPal by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after acquiring an additional 276,287 shares during the last quarter. Clearbridge Investments LLC grew its holdings 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 worth $493,907,000 after purchasing an additional 1,866,925 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of PayPal by 180.7% during the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after purchasing an additional 3,184,160 shares during the last quarter. First Trust Advisors LP raised its holdings in PayPal by 1.7% in the 4th quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock valued at $225,283,000 after buying an additional 61,384 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in PayPal by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after buying an additional 409,322 shares during the period. Institutional investors and hedge funds 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.