PayPal (NASDAQ:PYPL) PT Raised to $94.00

PayPal (NASDAQ:PYPL) had its price objective lifted by investment analysts at Deutsche Bank Aktiengesellschaft from $74.00 to $94.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the credit services provider’s stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 22.46% from the company’s previous close.

Several other equities analysts have also recently weighed in on PYPL. Robert W. Baird raised their price target on shares of PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their target price on PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Barclays increased their price target on PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $84.00 price objective on shares of PayPal in a report on Wednesday, July 31st. Finally, Citigroup increased their target price on shares of PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a report on Monday, June 10th. Seventeen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus target price of $76.16.

PayPal Stock Down 1.0 %

Shares of NASDAQ:PYPL opened at $76.76 on Monday. The firm has a market cap of $80.29 billion, a P/E ratio of 19.34, a PEG ratio of 1.01 and a beta of 1.43. PayPal has a 52-week low of $50.25 and a 52-week high of $78.25. The business’s 50 day simple moving average is $67.01 and its two-hundred day simple moving average is $64.46. 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 announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the previous year, the business posted $0.83 EPS. PayPal’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, research analysts forecast that PayPal will post 4.42 EPS for the current fiscal year.

Hedge Funds Weigh In On PayPal

Several hedge funds have recently made changes to their positions in the stock. Pittenger & Anderson Inc. boosted its stake in PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares during the period. American National Bank purchased a new stake in shares of PayPal in the first quarter worth about $27,000. Register Financial Advisors LLC bought a new position in shares of PayPal in the first quarter valued at approximately $30,000. CarsonAllaria Wealth Management Ltd. grew its stake in PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in PayPal during the 2nd quarter worth approximately $29,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

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.