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

Needham & Company LLC restated their hold rating on shares of PayPal (NASDAQ:PYPL) in a research note released on Wednesday, Benzinga reports.

PYPL has been the topic of a number of other research reports. Jefferies Financial Group cut their price objective on shares of PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Monness Crespi & Hardt boosted their price objective on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and issued a $84.00 target price on shares of PayPal in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group upped their target price on shares of PayPal from $69.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Fifteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.83.

PayPal Stock Down 2.6 %

Shares of PayPal stock opened at $77.25 on Wednesday. The company has a fifty day moving average price of $76.50 and a 200 day moving average price of $67.69. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.49. PayPal has a twelve month low of $52.55 and a twelve month high of $83.70. The stock has a market cap of $77.45 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.41 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. 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 analyst estimates of $7.88 billion. During the same quarter in the previous year, the business posted $0.97 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts forecast that PayPal will post 4.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd grew its position in PayPal by 15.4% in the 3rd quarter. Covestor Ltd now owns 2,602 shares of the credit services provider’s stock worth $203,000 after purchasing an additional 347 shares during the last quarter. Troy Asset Management Ltd boosted its holdings in shares of PayPal by 7.1% in the third quarter. Troy Asset Management Ltd now owns 382,814 shares of the credit services provider’s stock valued at $29,871,000 after acquiring an additional 25,380 shares in the last quarter. Atria Investments Inc boosted its holdings in shares of PayPal by 17.1% in the third quarter. Atria Investments Inc now owns 107,964 shares of the credit services provider’s stock valued at $8,424,000 after acquiring an additional 15,741 shares in the last quarter. Demars Financial Group LLC boosted its holdings in shares of PayPal by 4.8% in the third quarter. Demars Financial Group LLC now owns 6,764 shares of the credit services provider’s stock valued at $528,000 after acquiring an additional 309 shares in the last quarter. Finally, Beta Wealth Group Inc. boosted its holdings in shares of PayPal by 4.1% in the third quarter. Beta Wealth Group Inc. now owns 7,700 shares of the credit services provider’s stock valued at $601,000 after acquiring an additional 300 shares in 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.