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 closed yesterday at $77.48.
Foresi said:
“: We maintain our Overweight rating and our 12-month PT of $101 on PayPal. We are attracted to the company’s above-average industry growth rate and advantageous market positioning in eCommerce. Quarterly results were above expectations, and PayPal raised 2018 guidance. Growth in net new active accounts and user engagement remained strong. Venmo continues its strong growth. Management gave guide posts for 2019 estimates. We believe PayPal can grow at roughly double the market average, supporting its premium to the group.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 18.6% and a 79.4% 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 $99.03, implying a 27.8% upside from current levels. In a report issued on October 9, William Blair also maintained a Buy rating on the stock.
.
See today’s analyst top recommended stocks >>
Paypal Holdings’ market cap is currently $91.74B and has a P/E ratio of 46.40. The company has a Price to Book ratio of 6.11.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
PayPal Holdings, Inc. engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products.
Read More on PYPL:
