PayPal (NASDAQ:PYPL) Downgraded by StockNews.com

PayPal (NASDAQ:PYPL) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other analysts have also recently issued reports on PYPL. Barclays lifted their price objective on PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Macquarie lifted their price target on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Susquehanna increased their price objective on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a report on Wednesday, July 31st. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 target price on shares of PayPal in a research note on Wednesday, July 31st. Finally, Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Eighteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.56.

PayPal Trading Up 0.7 %

Shares of NASDAQ PYPL opened at $69.35 on Tuesday. The firm has a market capitalization of $70.90 billion, a PE ratio of 17.47, a PEG ratio of 0.98 and a beta of 1.43. PayPal has a one year low of $50.25 and a one year high of $74.40. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $64.73 and a two-hundred day moving average price of $63.67.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 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 firm had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same period in the previous year, the firm posted $0.83 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. As a group, analysts predict that PayPal will post 4.42 earnings per share for the current fiscal year.

Institutional Trading of PayPal

A number of institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in PayPal during the fourth quarter worth $749,561,000. Legal & General Group Plc boosted its position 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 valued at $501,184,000 after acquiring an additional 276,287 shares in the last quarter. Clearbridge Investments LLC increased its stake in PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after acquiring an additional 1,866,925 shares during the period. Primecap Management Co. CA raised its position in PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after purchasing an additional 3,184,160 shares in the last quarter. Finally, First Trust Advisors LP raised its position in PayPal by 1.7% in the fourth quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock worth $225,283,000 after purchasing an additional 61,384 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

About PayPal

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.