Paypal (NASDAQ:PYPL) Given “Buy” Rating at Citigroup

Citigroup reaffirmed their buy rating on shares of Paypal (NASDAQ:PYPL) in a report released on Friday, November 17th. The firm currently has a $87.00 price objective on the credit services provider’s stock.

PYPL has been the subject of several other reports. Oppenheimer increased their price objective on Paypal from $50.00 to $65.00 and gave the company an outperform rating in a research note on Thursday, July 27th. Wells Fargo & Company upped their target price on Paypal from $65.00 to $70.00 and gave the company a market perform rating in a report on Friday, October 20th. Cowen reiterated a market perform rating and set a $52.00 price target (up from $48.00) on shares of Paypal in a report on Thursday, July 27th. Keefe, Bruyette & Woods reiterated a buy rating and set a $70.00 price target on shares of Paypal in a report on Thursday, July 27th. Finally, Loop Capital increased their price target on Paypal from $57.00 to $67.00 and gave the stock a hold rating in a report on Friday, October 20th. Ten equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and three have given a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $73.24.

Shares of Paypal (PYPL) opened at $70.97 on Friday. The company has a market capitalization of $85,300.00 and a P/E ratio of 53.79. Paypal has a 52-week low of $38.65 and a 52-week high of $79.39.

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

A number of hedge funds have recently modified their holdings of the stock. AXA raised its holdings in shares of Paypal by 68.4% in the third quarter. AXA now owns 382,248 shares of the credit services provider’s stock worth $24,475,000 after acquiring an additional 155,268 shares during the last quarter. Shelton Capital Management raised its holdings in shares of Paypal by 1.2% in the third quarter. Shelton Capital Management now owns 103,253 shares of the credit services provider’s stock worth $6,611,000 after acquiring an additional 1,205 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Paypal in the third quarter worth $735,000. Visionary Asset Management Inc. acquired a new position in shares of Paypal in the third quarter worth $214,000. Finally, Cambridge Financial Group Inc. acquired a new position in shares of Paypal in the third quarter worth $7,005,000. 80.81% of the stock is owned by hedge funds and other institutional investors.

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About Paypal

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.

Analyst Recommendations for Paypal (NASDAQ:PYPL)

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