PayPal (NASDAQ:PYPL – Get Free Report)‘s stock had its “buy” rating reiterated by Mizuho in a research note issued on Friday, Benzinga reports. They presently have a $92.00 price objective on the credit services provider’s stock. Mizuho’s target price indicates a potential upside of 43.28% from the company’s previous close.
Several other research firms also recently commented on PYPL. Wedbush reissued an “outperform” rating and set a $85.00 price target on shares of PayPal in a research note on Thursday, August 3rd. Oppenheimer lowered their price target on shares of PayPal from $89.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. StockNews.com initiated coverage on PayPal in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Truist Financial boosted their target price on PayPal from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, Morgan Stanley reduced their price target on PayPal from $133.00 to $126.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.03.
View Our Latest Research Report on PayPal
PayPal Stock Performance
PayPal (NASDAQ:PYPL – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The credit services provider reported $1.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.16. The firm had revenue of $7.29 billion during the quarter, compared to analyst estimates of $7.27 billion. PayPal had a return on equity of 20.31% and a net margin of 14.27%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 earnings per share. As a group, equities research analysts predict that PayPal will post 3.81 EPS for the current fiscal year.
Hedge Funds Weigh In On PayPal
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in PayPal by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,246,996 shares of the credit services provider’s stock valued at $144,215,000 after buying an additional 138,875 shares in the last quarter. Dakota Wealth Management increased its holdings in shares of PayPal by 8.6% during the first quarter. Dakota Wealth Management now owns 4,894 shares of the credit services provider’s stock valued at $566,000 after acquiring an additional 387 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of PayPal by 15.4% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,860 shares of the credit services provider’s stock worth $793,000 after purchasing an additional 918 shares during the last quarter. Covestor Ltd boosted its stake in PayPal by 136.1% in the 1st quarter. Covestor Ltd now owns 1,334 shares of the credit services provider’s stock worth $154,000 after purchasing an additional 769 shares in the last quarter. Finally, Donaldson Capital Management LLC grew its position in PayPal by 5.3% during the 1st quarter. Donaldson Capital Management LLC now owns 3,095 shares of the credit services provider’s stock valued at $358,000 after purchasing an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 68.42% of the company’s stock.
PayPal Company Profile
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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