Paypal (NASDAQ:PYPL) had its price objective increased by Deutsche Bank to $88.00 in a research report report published on Friday, November 17th. The brokerage currently has a buy rating on the credit services provider’s stock.
A number of other analysts have also recently weighed in on the stock. Barclays raised their price target on shares of Paypal from $75.00 to $78.00 and gave the company an overweight rating in a report on Friday, October 20th. Zacks Investment Research cut shares of Paypal from a buy rating to a hold rating in a research note on Thursday, November 2nd. Credit Suisse Group reiterated an outperform rating on shares of Paypal in a research note on Tuesday, September 5th. Vetr raised shares of Paypal from a hold rating to a buy rating and set a $73.32 price target for the company in a research report on Tuesday, October 24th. Finally, Canaccord Genuity reaffirmed a hold rating and set a $66.00 target price on shares of Paypal in a report on Thursday, November 16th. Ten equities research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. Paypal currently has a consensus rating of Buy and a consensus target price of $73.11.
Paypal (NASDAQ:PYPL) traded down $0.05 during mid-day trading on Friday, reaching $77.79. 8,741,300 shares of the company traded hands, compared to its average volume of 7,636,488. The stock has a market cap of $93,500.00 and a P/E ratio of 56.12. Paypal has a 52 week low of $38.06 and a 52 week high of $79.39.
Paypal (NASDAQ:PYPL) last posted its earnings results on Thursday, October 19th. The credit services provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Paypal had a net margin of 11.73% and a return on equity of 10.02%. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter last year, the firm posted $0.35 EPS. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. analysts expect that Paypal will post 1.37 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers raised its position in Paypal by 0.9% in the second quarter. Rhumbline Advisers now owns 1,850,531 shares of the credit services provider’s stock worth $99,318,000 after acquiring an additional 17,139 shares in the last quarter. Fundsmith LLP increased its position in shares of Paypal by 6.8% in the second quarter. Fundsmith LLP now owns 14,051,261 shares of the credit services provider’s stock valued at $754,131,000 after buying an additional 889,976 shares in the last quarter. Shikiar Asset Management Inc. increased its position in shares of Paypal by 2,671.9% in the second quarter. Shikiar Asset Management Inc. now owns 141,365 shares of the credit services provider’s stock valued at $7,587,000 after buying an additional 136,265 shares in the last quarter. Smith Asset Management Group LP purchased a new position in shares of Paypal in the second quarter valued at $50,648,000. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of Paypal by 0.7% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 188,272 shares of the credit services provider’s stock valued at $12,055,000 after buying an additional 1,400 shares in the last quarter. 81.25% of the stock is owned by hedge funds and other institutional investors.
PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.