PayPal (NASDAQ:PYPL) Given New $96.00 Price Target at Canaccord Genuity Group

PayPal (NASDAQ:PYPL) had its price objective boosted by Canaccord Genuity Group from $80.00 to $96.00 in a research note issued to investors on Wednesday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the credit services provider’s stock.

PYPL has been the topic of several other reports. UBS Group upped their price target on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday. William Blair raised shares of PayPal to a “hold” rating in a report on Tuesday, July 30th. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $68.00 to $72.00 in a report on Friday, August 9th. Morgan Stanley boosted their price target on PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Oppenheimer initiated coverage on PayPal in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Seventeen investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $82.03.

PayPal Trading Down 2.6 %

PayPal stock opened at $78.22 on Wednesday. The company has a market cap of $81.82 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 1.51 and a beta of 1.44. The firm has a 50-day moving average of $76.24 and a 200-day moving average of $67.48. 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 $50.80 and a one year high of $83.70.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 earnings per share. On average, equities analysts expect that PayPal will post 4.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PayPal

Hedge funds and other institutional investors have recently made changes to their positions in the company. Primecap Management Co. CA raised its position in 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 valued at $287,043,000 after purchasing an additional 3,184,160 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of PayPal by 9,864.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock worth $87,336,000 after buying an additional 1,108,030 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of PayPal by 139.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,544,179 shares of the credit services provider’s stock worth $120,492,000 after buying an additional 899,476 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in PayPal by 31.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after buying an additional 687,940 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.