PayPal’s (PYPL) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of PayPal (NASDAQ:PYPL) in a research note issued to investors on Wednesday morning, Benzinga reports.

A number of other brokerages have also recently issued reports on PYPL. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Jefferies Financial Group dropped their price target on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. The Goldman Sachs Group upped their price target on shares of PayPal from $69.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. 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. Seventeen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.29.

PayPal Stock Performance

Shares of PYPL stock opened at $77.25 on Wednesday. PayPal has a 12 month low of $52.55 and a 12 month high of $83.70. The stock has a market cap of $77.45 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.40 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.49. The company’s fifty day moving average price is $76.50 and its 200-day moving average price is $67.66.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the previous year, the business posted $0.97 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts expect that PayPal will post 4.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Pittenger & Anderson Inc. boosted its position in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 172 shares during the last quarter. Financial Management Professionals Inc. boosted its position in shares of PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after acquiring an additional 243 shares during the last quarter. CarsonAllaria Wealth Management Ltd. boosted its position in shares of PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 185 shares during the last quarter. Family Firm Inc. bought a new position in shares of PayPal during the 2nd quarter valued at approximately $29,000. Finally, SYSTM Wealth Solutions LLC boosted its position in shares of PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 167 shares during 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.