PayPal (NASDAQ:PYPL) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

PayPal (NASDAQ:PYPL) had its price objective lifted by analysts at The Goldman Sachs Group from $79.00 to $87.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the credit services provider’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 9.71% from the stock’s current price.

PYPL has been the subject of a number of other research reports. Sanford C. Bernstein downgraded shares of PayPal from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $75.00 to $80.00 in a research report on Thursday, October 10th. Morgan Stanley upped their target price on shares of PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Wednesday. Canaccord Genuity Group upped their target price on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday. Stephens upped their target price on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, William Blair raised shares of PayPal to a “hold” rating in a report on Tuesday, July 30th. Seventeen research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and an average price target of $82.03.

PayPal Price Performance

Shares of PYPL 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 fifty day simple moving average of $76.39 and a two-hundred day simple moving average of $67.56. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a market cap of $82.95 billion, a PE ratio of 19.97, a P/E/G ratio of 1.51 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data 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 quarter in the previous year, the firm posted $0.97 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts anticipate that PayPal will post 4.44 EPS for the current year.

Hedge Funds Weigh In On PayPal

Hedge funds and other institutional investors have recently modified their holdings of the business. Pittenger & Anderson Inc. boosted its stake in shares of PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares in the last quarter. Family Firm Inc. bought a new position in shares of PayPal during the second quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC boosted its stake in shares of PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in shares of PayPal by 930.0% during the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 465 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in shares of 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 purchasing an additional 185 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

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.