PayPal (NASDAQ:PYPL) Given New $90.00 Price Target at Macquarie

PayPal (NASDAQ:PYPL) had its target price hoisted by Macquarie from $85.00 to $90.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the credit services provider’s stock.

Several other equities analysts have also recently weighed in on PYPL. New Street Research began coverage on PayPal in a research note on Friday, May 31st. They set a buy rating and a $80.00 price objective on the stock. Robert W. Baird raised their target price on PayPal from $70.00 to $77.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Needham & Company LLC reaffirmed a hold rating on shares of PayPal in a research report on Tuesday, April 30th. Sanford C. Bernstein raised PayPal from a market perform rating to an outperform rating and raised their target price for the company from $71.00 to $78.00 in a research report on Wednesday. Finally, The Goldman Sachs Group reaffirmed a neutral rating and set a $69.00 target price on shares of PayPal in a report on Monday, June 24th. Nineteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $75.03.

PayPal Stock Performance

PayPal stock opened at $65.78 on Wednesday. The business has a 50 day moving average of $60.93 and a 200-day moving average of $62.19. PayPal has a 1 year low of $50.25 and a 1 year high of $76.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.28. The company has a market capitalization of $68.81 billion, a P/E ratio of 16.57, a P/E/G ratio of 1.04 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts predict that PayPal will post 4.17 earnings per share for the current year.

Insider Buying and Selling at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the completion of the transaction, the director now owns 13,976 shares of the company’s stock, valued at $861,620.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Several institutional investors and hedge funds have recently added to or reduced their stakes in PYPL. Norges Bank purchased a new position in PayPal during the fourth quarter valued at $749,561,000. The Manufacturers Life Insurance Company raised its position in shares of PayPal by 125.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after purchasing an additional 958,130 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of PayPal by 15.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after purchasing an additional 904,804 shares during the last quarter. Boston Partners raised its position in shares of PayPal by 4,024.5% in the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock worth $48,099,000 after purchasing an additional 764,258 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of PayPal by 1,309.2% in the 4th quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock worth $49,168,000 after purchasing an additional 743,833 shares during the last quarter. Hedge funds and other institutional investors 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.