Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Paypal Holdings (NASDAQ: PYPL) today and set a price target of $101. The company’s shares opened today at $89.84, close to its 52-week high of $93.70.
Foresi noted:
“: We maintain our Overweight rating on PYPL and raise our-12 month PT to $101 from $98. Our “Solving for Alpha” series takes a deep dive into stock specific investor topics testing our investment thesis (Click Here for our PYPL PowerPoint). We believe PYPL represents a compelling long term opportunity given its mid teens organic growth profile with margin expansion resulting in twenty percent plus earnings growth and strong FCF generation, which can be used for acquisitions or returned to shareholders. We run through the Bulls vs. Bears argument and provide our opinion on pg. 2.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 23.0% and a 88.9% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Currently, the analyst consensus on Paypal Holdings is a Strong Buy with an average price target of $98.54, which is a 9.7% upside from current levels. In a report issued on September 11, Merrill Lynch also maintained a Buy rating on the stock with a $102 price target.
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Based on Paypal Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.85 billion and net profit of $526 million. In comparison, last year the company earned revenue of $3.12 billion and had a net profit of $411 million.
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