Goldman Sachs Group Reiterates “Buy” Rating for Paypal (PYPL)

Paypal (NASDAQ:PYPL)‘s stock had its “buy” rating reaffirmed by investment analysts at Goldman Sachs Group in a report released on Thursday. They currently have a $90.00 target price on the credit services provider’s stock, up from their previous target price of $80.00. Goldman Sachs Group’s price target would suggest a potential upside of 21.80% from the company’s previous close.

PYPL has been the subject of several other reports. Barclays reaffirmed a “buy” rating on shares of Paypal in a research report on Tuesday, November 21st. Canaccord Genuity reaffirmed a “hold” rating and set a $66.00 target price on shares of Paypal in a report on Thursday, November 16th. Robert W. Baird lifted their target price on Paypal from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, November 16th. Vetr downgraded Paypal from a “buy” rating to a “hold” rating and set a $78.63 target price on the stock. in a report on Friday, November 17th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $85.00 target price (up from $80.00) on shares of Paypal in a report on Friday, November 17th. Nine equities research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Paypal presently has an average rating of “Buy” and an average price target of $74.04.

Shares of Paypal (NASDAQ:PYPL) opened at $73.89 on Thursday. Paypal has a 1 year low of $39.02 and a 1 year high of $79.39. The company has a market capitalization of $88,941.34, a PE ratio of 57.28, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03.

Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Thursday, October 19th. The credit services provider reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.18 billion. Paypal had a return on equity of 11.33% and a net margin of 12.69%. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. equities research analysts forecast that Paypal will post 1.37 EPS for the current year.

In related news, Director Rodney C. Adkins purchased 6,750 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was bought at an average cost of $74.04 per share, with a total value of $499,770.00. Following the completion of the purchase, the director now directly owns 10,149 shares in the company, valued at $751,431.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.00% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Paypal by 36.1% during the 2nd quarter. FMR LLC now owns 82,268,871 shares of the credit services provider’s stock valued at $4,415,371,000 after acquiring an additional 21,814,940 shares in the last quarter. Jennison Associates LLC purchased a new position in Paypal in the 3rd quarter valued at about $481,937,000. Harding Loevner LP lifted its holdings in Paypal by 86.1% in the 3rd quarter. Harding Loevner LP now owns 11,353,818 shares of the credit services provider’s stock valued at $381,030,000 after purchasing an additional 5,253,746 shares in the last quarter. Capital World Investors lifted its holdings in Paypal by 313.5% in the 2nd quarter. Capital World Investors now owns 6,151,049 shares of the credit services provider’s stock valued at $330,127,000 after purchasing an additional 4,663,337 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Paypal by 1,064.7% in the 2nd quarter. Janus Henderson Group PLC now owns 4,861,493 shares of the credit services provider’s stock valued at $260,921,000 after purchasing an additional 4,444,097 shares in the last quarter. 80.70% of the stock is owned by institutional investors.

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Paypal Company Profile

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.

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