Beech Hill Advisors Inc. Grows Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Beech Hill Advisors Inc. lifted its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,929 shares of the credit services provider’s stock after purchasing an additional 410 shares during the quarter. Beech Hill Advisors Inc.’s holdings in PayPal were worth $2,960,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pittenger & Anderson Inc. increased its stake in PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the last quarter. American National Bank bought a new position in shares of PayPal during the 1st quarter valued at about $27,000. Family Firm Inc. purchased a new position in shares of PayPal during the 2nd quarter valued at about $29,000. SYSTM Wealth Solutions LLC lifted its position in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares during the last quarter. Finally, Register Financial Advisors LLC purchased a new stake in PayPal in the first quarter worth approximately $30,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PYPL shares. UBS Group boosted their price objective on shares of PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Sanford C. Bernstein downgraded shares of PayPal from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. StockNews.com cut PayPal from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $80.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Finally, TD Cowen boosted their price objective on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Seventeen analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.35.

PayPal Stock Up 1.6 %

Shares of NASDAQ:PYPL opened at $80.82 on Thursday. 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 stock has a fifty day simple moving average of $73.52 and a two-hundred day simple moving average of $66.41. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $82.00. The stock has a market capitalization of $84.54 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.49 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. PayPal’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $0.83 EPS. On average, research analysts anticipate that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

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.