PayPal (NASDAQ:PYPL) Given New $98.00 Price Target at Citigroup

PayPal (NASDAQ:PYPL) had its target price increased by Citigroup from $97.00 to $98.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the credit services provider’s stock.

A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Wednesday. Canaccord Genuity Group lifted their price objective on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird raised their price target on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their price target on PayPal from $88.00 to $93.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Monness Crespi & Hardt increased their price objective on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.29.

PayPal Price Performance

PYPL opened at $79.20 on Wednesday. PayPal has a fifty-two week low of $55.77 and a fifty-two week high of $93.66. The firm has a 50-day moving average of $88.01 and a 200 day moving average of $79.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $79.40 billion, a P/E ratio of 18.90, a PEG ratio of 1.49 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.48 earnings per share. On average, research analysts expect that PayPal will post 4.58 EPS for the current year.

Hedge Funds Weigh In On PayPal

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PYPL. SRS Capital Advisors Inc. raised its holdings in shares of PayPal by 201.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 5,046 shares of the credit services provider’s stock worth $431,000 after acquiring an additional 3,372 shares during the period. Asahi Life Asset Management CO. LTD. purchased a new position in PayPal during the fourth quarter worth about $481,000. Norden Group LLC boosted its holdings in PayPal by 11.4% in the 4th quarter. Norden Group LLC now owns 4,800 shares of the credit services provider’s stock valued at $410,000 after purchasing an additional 493 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of PayPal by 22.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 9,561 shares of the credit services provider’s stock valued at $817,000 after buying an additional 1,783 shares during the period. Finally, Maia Wealth LLC increased its holdings in shares of PayPal by 19.6% during the 4th quarter. Maia Wealth LLC now owns 7,306 shares of the credit services provider’s stock worth $659,000 after buying an additional 1,199 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.