The Goldman Sachs Group Boosts PayPal (NASDAQ:PYPL) Price Target to $79.00

PayPal (NASDAQ:PYPL) had its target price upped by The Goldman Sachs Group from $69.00 to $79.00 in a research note released on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the credit services provider’s stock.

Several other analysts have also commented on PYPL. William Blair raised shares of PayPal to a “hold” rating in a research report on Tuesday, July 30th. Jefferies Financial Group decreased their target price on shares of PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $78.00 price target on shares of PayPal in a research note on Wednesday, September 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Finally, Mizuho upped their price objective on shares of PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday. Seventeen research 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 MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average target price of $77.35.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $80.82 on Monday. PayPal has a twelve month low of $50.25 and a twelve month high of $82.00. The firm has a fifty day simple moving average of $73.52 and a 200 day simple moving average of $66.41. The company has a market capitalization of $84.54 billion, a PE ratio of 20.36, a P/E/G ratio of 1.49 and a beta of 1.44. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

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 the consensus estimate of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 earnings per share. On average, sell-side analysts forecast that PayPal will post 4.42 EPS for the current year.

Institutional Trading of PayPal

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc grew its position in PayPal by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after acquiring an additional 276,287 shares in the last quarter. Clearbridge Investments LLC grew its position 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 buying an additional 1,866,925 shares in the last quarter. Primecap Management Co. CA boosted its holdings in PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after purchasing an additional 3,184,160 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in PayPal by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock valued at $183,789,000 after purchasing an additional 409,322 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in PayPal by 5.1% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock valued at $176,789,000 after purchasing an additional 146,643 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other 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.