PayPal (NASDAQ:PYPL) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of PayPal (NASDAQ:PYPL) from a buy rating to a hold rating in a research note published on Thursday.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group reissued a neutral rating and set a $69.00 price target on shares of PayPal in a report on Monday, June 24th. Canaccord Genuity Group reaffirmed a buy rating and set a $80.00 price objective on shares of PayPal in a report on Wednesday, July 31st. Wells Fargo & Company increased their price objective on shares of PayPal from $65.00 to $70.00 and gave the company an equal weight rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of PayPal from $77.00 to $80.00 and gave the company an overweight rating in a report on Tuesday, August 20th. Finally, Macquarie increased their price objective on shares of PayPal from $85.00 to $90.00 and gave the company an outperform rating in a report on Wednesday, July 31st. Seventeen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $75.58.

PayPal Price Performance

Shares of PYPL opened at $77.57 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $81.14 billion, a PE ratio of 19.54, a PEG ratio of 1.00 and a beta of 1.43. The company has a 50 day moving average price of $66.68 and a 200-day moving average price of $64.26. PayPal has a fifty-two week low of $50.25 and a fifty-two week high of $78.25.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the prior year, the business posted $0.83 EPS. PayPal’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities analysts predict that PayPal will post 4.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PayPal

Institutional investors have recently made changes to their positions in the stock. Fiduciary Alliance LLC increased its position in shares of PayPal by 604.7% during the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after acquiring an additional 45,544 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of PayPal by 44.6% during the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after acquiring an additional 381 shares during the last quarter. Blue Trust Inc. increased its position in shares of PayPal by 21.2% during the second quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock valued at $195,000 after acquiring an additional 588 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of PayPal by 18.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock valued at $15,686,000 after acquiring an additional 36,994 shares during the last quarter. Finally, Brown Shipley& Co Ltd increased its position in shares of PayPal by 6.0% during the fourth quarter. Brown Shipley& Co Ltd now owns 51,372 shares of the credit services provider’s stock valued at $3,155,000 after acquiring an additional 2,919 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.