Firsthand Capital Management Inc. Purchases 5,000 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Firsthand Capital Management Inc. boosted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 100.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the credit services provider’s stock after purchasing an additional 5,000 shares during the period. PayPal comprises approximately 1.5% of Firsthand Capital Management Inc.’s investment portfolio, making the stock its 20th biggest position. Firsthand Capital Management Inc.’s holdings in PayPal were worth $780,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. LRI Investments LLC acquired a new stake in PayPal in the first quarter valued at approximately $34,000. Burney Co. bought a new position in PayPal in the first quarter valued at about $1,912,000. Cetera Investment Advisers boosted its stake in shares of PayPal by 229.8% during the first quarter. Cetera Investment Advisers now owns 205,295 shares of the credit services provider’s stock valued at $13,753,000 after purchasing an additional 143,046 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of PayPal by 76.2% during the first quarter. Cetera Advisors LLC now owns 44,526 shares of the credit services provider’s stock worth $2,983,000 after purchasing an additional 19,257 shares during the last quarter. Finally, Westwood Holdings Group Inc. acquired a new position in shares of PayPal in the first quarter valued at approximately $251,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PYPL. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. BMO Capital Markets raised their price objective on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Stephens upped their target price on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Mizuho raised their price target on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $68.00 to $72.00 in a research note on Friday, August 9th. Sixteen research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Stock Up 0.2 %

Shares of NASDAQ:PYPL opened at $86.77 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock has a market cap of $86.99 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.54 and a beta of 1.43. The business’s 50 day moving average is $81.69 and its 200 day moving average is $70.45. PayPal Holdings, Inc. has a 12-month low of $55.77 and a 12-month high of $88.74.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 EPS. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

PayPal 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.