PayPal (NASDAQ:PYPL) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of PayPal (NASDAQ:PYPL) in a report released on Wednesday morning, Benzinga reports.

Several other research firms have also commented on PYPL. TD Cowen increased their target price on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Barclays increased their target price on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Macquarie increased their target price on shares of PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Susquehanna increased their target price on shares of PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Fifteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.83.

PayPal Trading Down 2.6 %

PayPal stock opened at $77.25 on Wednesday. The firm has a 50 day simple moving average of $76.50 and a 200-day simple moving average of $67.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.24. The stock has a market capitalization of $77.45 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.41 and a beta of 1.43. PayPal has a 12-month low of $52.55 and a 12-month high of $83.70.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same period in the prior year, the business earned $0.97 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts expect that PayPal will post 4.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Legal & General Group Plc increased its stake in shares of PayPal by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after purchasing an additional 276,287 shares during the last quarter. Clearbridge Investments LLC grew its stake in PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares during the last quarter. Primecap Management Co. CA grew its stake in PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after buying an additional 3,184,160 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in PayPal by 14.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock valued at $183,789,000 after buying an additional 409,322 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in PayPal by 5.1% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock valued at $176,789,000 after buying an additional 146,643 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.