Paypal (NASDAQ:PYPL) Price Target Raised to $218.00

Paypal (NASDAQ:PYPL) had its price objective hoisted by Citigroup from $186.00 to $218.00 in a report issued on Thursday morning, The Fly reports. Citigroup currently has a buy rating on the credit services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Barclays lifted their target price on Paypal from $199.00 to $210.00 and gave the stock an overweight rating in a report on Wednesday, July 22nd. Morgan Stanley lifted their target price on Paypal from $131.00 to $206.00 and gave the stock an overweight rating in a report on Wednesday, July 22nd. BMO Capital Markets cut Paypal from an outperform rating to a market perform rating and set a $156.00 target price on the stock. in a report on Thursday, May 14th. Rosenblatt Securities lifted their target price on Paypal from $196.00 to $204.00 and gave the stock a buy rating in a report on Wednesday. Finally, Moffett Nathanson reaffirmed a buy rating and issued a $170.00 target price on shares of Paypal in a report on Thursday, May 28th. Seven equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Paypal has an average rating of Buy and a consensus target price of $190.13.

NASDAQ:PYPL traded up $3.56 on Thursday, reaching $196.07. 10,865,370 shares of the company’s stock traded hands, compared to its average volume of 7,571,171. The company has a quick ratio of 1.39, a current ratio of 1.38 and a debt-to-equity ratio of 0.51. The stock has a 50-day simple moving average of $172.13 and a 200-day simple moving average of $133.02. The firm has a market cap of $230.18 billion, a PE ratio of 89.94, a P/E/G ratio of 5.52 and a beta of 1.19. Paypal has a 12 month low of $82.07 and a 12 month high of $198.66.

Paypal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.46. The business had revenue of $5.26 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Paypal had a return on equity of 16.17% and a net margin of 13.44%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the firm earned $0.86 earnings per share. On average, equities analysts anticipate that Paypal will post 2.38 earnings per share for the current year.

In other news, CEO Daniel H. Schulman sold 25,000 shares of Paypal stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $144.15, for a total transaction of $3,603,750.00. Following the completion of the sale, the chief executive officer now owns 569,603 shares of the company’s stock, valued at $82,108,272.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 75,000 shares of company stock valued at $10,562,250 in the last ninety days. Insiders own 0.12% of the company’s stock.

A number of large investors have recently modified their holdings of PYPL. Capital Research Global Investors raised its stake in Paypal by 154.8% in the first quarter. Capital Research Global Investors now owns 14,602,398 shares of the credit services provider’s stock worth $1,398,034,000 after buying an additional 8,872,484 shares in the last quarter. Fisher Asset Management LLC raised its stake in Paypal by 65.7% in the first quarter. Fisher Asset Management LLC now owns 7,003,347 shares of the credit services provider’s stock worth $670,500,000 after buying an additional 2,775,699 shares in the last quarter. Lone Pine Capital LLC raised its stake in Paypal by 56.5% in the first quarter. Lone Pine Capital LLC now owns 5,265,480 shares of the credit services provider’s stock worth $504,117,000 after buying an additional 1,901,160 shares in the last quarter. Carmignac Gestion raised its stake in Paypal by 38,906.7% in the first quarter. Carmignac Gestion now owns 1,791,187 shares of the credit services provider’s stock worth $171,491,000 after buying an additional 1,786,595 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Paypal by 135.8% in the first quarter. Assenagon Asset Management S.A. now owns 2,836,159 shares of the credit services provider’s stock worth $271,534,000 after buying an additional 1,633,162 shares in the last quarter. 82.75% of the stock is owned by institutional investors.

About Paypal

PayPal Holdings, Inc operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

See Also: What is a Roth IRA?

The Fly

Analyst Recommendations for Paypal (NASDAQ:PYPL)

Receive News & Ratings for Paypal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paypal and related companies with MarketBeat.com's FREE daily email newsletter.