PayPal (NASDAQ:PYPL) Receives “Outperform” Rating from Royal Bank of Canada

PayPal (NASDAQ:PYPL)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a research note issued to investors on Thursday,Benzinga reports. They currently have a $100.00 price target on the credit services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 9.87% from the company’s current price.

PYPL has been the topic of a number of other reports. Wells Fargo & Company upped their target price on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Susquehanna raised their target price on shares of PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $103.00 in a research note on Monday, December 9th. Monness Crespi & Hardt raised their price objective on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Stephens lifted their price objective on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Fifteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.74.

PayPal Trading Up 1.8 %

Shares of PayPal stock opened at $91.02 on Thursday. The company’s 50-day moving average price is $83.87 and its 200-day moving average price is $72.23. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal has a 12-month low of $55.77 and a 12-month high of $93.66. The company has a market cap of $91.25 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 1.66 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 EPS. On average, equities analysts expect that PayPal will post 4.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PayPal

A number of large investors have recently modified their holdings of the stock. Mizuho Securities USA LLC lifted its holdings in PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after buying an additional 10,419,351 shares during the period. FMR LLC raised its position in shares of PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of PayPal in the 3rd quarter valued at approximately $387,435,000. Primecap Management Co. CA boosted its position in shares of PayPal by 180.7% during the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after purchasing an additional 3,184,160 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares during the period. Institutional investors own 68.32% 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. 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.