Needham & Company LLC Reiterates “Hold” Rating for PayPal (NASDAQ:PYPL)

PayPal (NASDAQ:PYPL)‘s stock had its “hold” rating reiterated by stock analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports.

A number of other equities analysts have also weighed in on PYPL. Susquehanna boosted their price objective on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a report on Monday, January 6th. Mizuho upped their price target on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, October 14th. UBS Group lifted their price objective on PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays raised their price target on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, BMO Capital Markets boosted their price objective on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.48.

PayPal Stock Down 13.2 %

Shares of NASDAQ:PYPL opened at $77.72 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $88.20 and a two-hundred day simple moving average of $79.26. PayPal has a 12-month low of $55.77 and a 12-month high of $93.66. The stock has a market capitalization of $77.92 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.49 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.48 EPS. On average, research analysts anticipate that PayPal will post 4.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PayPal

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC raised its holdings in shares of PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares in the last quarter. Mizuho Securities USA LLC increased its position in PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after purchasing an additional 10,419,351 shares during the last quarter. Primecap Management Co. CA raised its stake in PayPal by 21.6% during the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after purchasing an additional 1,069,356 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of PayPal in the 3rd quarter worth $387,435,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of PayPal by 174.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after buying an additional 2,689,162 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

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.