PayPal (NASDAQ:PYPL – Free Report) had its price target hoisted by Citigroup from $94.00 to $97.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the credit services provider’s stock.
Other equities analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods lifted their target price on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $86.00 to $103.00 in a research report on Monday, December 9th. Phillip Securities reaffirmed an “accumulate” rating and set a $90.00 price target (up from $80.00) on shares of PayPal in a research note on Friday, November 1st. Robert W. Baird increased their price target on PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PayPal presently has an average rating of “Moderate Buy” and a consensus price target of $89.16.
Check Out Our Latest Stock Report on PayPal
PayPal Trading Up 3.8 %
PayPal (NASDAQ:PYPL – Get Free Report) 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 $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $0.97 EPS. Equities research analysts forecast that PayPal will post 4.57 earnings per share for the current fiscal year.
Institutional Trading of PayPal
A number of large investors have recently bought and sold shares of PYPL. J.W. Cole Advisors Inc. lifted its holdings in PayPal by 36.2% during the second quarter. J.W. Cole Advisors Inc. now owns 6,357 shares of the credit services provider’s stock valued at $369,000 after purchasing an additional 1,690 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of PayPal by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock valued at $183,789,000 after buying an additional 409,322 shares in the last quarter. Quantbot Technologies LP bought a new position in PayPal in the 2nd quarter worth approximately $3,642,000. Citizens Financial Group Inc. RI grew its stake in PayPal by 50.3% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 15,754 shares of the credit services provider’s stock valued at $914,000 after buying an additional 5,269 shares in the last quarter. Finally, Excalibur Management Corp raised its holdings in PayPal by 12.5% during the 2nd quarter. Excalibur Management Corp now owns 8,951 shares of the credit services provider’s stock valued at $519,000 after acquiring an additional 993 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.
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.
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