EverSource Wealth Advisors LLC Lowers Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

EverSource Wealth Advisors LLC reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,450 shares of the credit services provider’s stock after selling 488 shares during the period. EverSource Wealth Advisors LLC’s holdings in PayPal were worth $432,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Pittenger & Anderson Inc. raised its stake 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 worth $26,000 after buying an additional 172 shares during the last quarter. American National Bank acquired a new position in shares of PayPal during the 1st quarter worth $27,000. Family Firm Inc. acquired a new position in shares of PayPal during the 2nd quarter worth $29,000. SYSTM Wealth Solutions LLC raised its stake 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 worth $29,000 after buying an additional 167 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new position in shares of PayPal during the 1st quarter worth $30,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on PYPL. StockNews.com downgraded PayPal from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $69.00 price target on shares of PayPal in a research note on Thursday, September 19th. New Street Research initiated coverage on shares of PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, Barclays boosted their target price on shares of PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Seventeen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.16.

PayPal Stock Up 0.9 %

NASDAQ PYPL opened at $78.34 on Wednesday. The stock has a market cap of $80.09 billion, a PE ratio of 19.73, a P/E/G ratio of 1.11 and a beta of 1.43. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $78.83. The business has a 50 day moving average price of $67.68 and a two-hundred day moving average price of $64.73. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. PayPal’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

PayPal Company 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.