PayPal (NASDAQ:PYPL) Price Target Raised to $110.00 at Barclays

PayPal (NASDAQ:PYPL) had its price objective lifted by stock analysts at Barclays from $92.00 to $110.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the credit services provider’s stock. Barclays‘s price objective would suggest a potential upside of 21.48% from the stock’s previous close.

Several other brokerages also recently commented on PYPL. Wells Fargo & Company lifted their price target on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Oppenheimer initiated coverage on shares of PayPal in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research report on Friday. Susquehanna increased their target price on shares of PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Finally, Monness Crespi & Hardt boosted their price target on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and an average target price of $87.97.

PayPal Stock Performance

Shares of NASDAQ PYPL traded down $0.75 during trading hours on Tuesday, hitting $90.55. 3,864,596 shares of the stock were exchanged, compared to its average volume of 12,994,109. PayPal has a one year low of $55.77 and a one year high of $93.66. The company’s 50 day moving average is $84.09 and its 200 day moving average is $72.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $90.78 billion, a P/E ratio of 21.61, a P/E/G ratio of 1.66 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. 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 company earned $0.97 earnings per share. On average, research analysts expect that PayPal will post 4.57 EPS for the current year.

Hedge Funds Weigh In On PayPal

Large investors have recently bought and sold shares of the business. Mizuho Securities USA LLC lifted its stake in shares of PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after purchasing an additional 10,419,351 shares during the period. FMR LLC boosted its holdings in PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after buying an additional 7,767,072 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of PayPal during the 3rd quarter worth about $387,435,000. Primecap Management Co. CA increased its stake in shares of PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after acquiring an additional 3,184,160 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position 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 acquiring an additional 1,866,925 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.