PayPal (NASDAQ:PYPL) Lowered to “Hold” Rating by StockNews.com

PayPal (NASDAQ:PYPL) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. UBS Group raised their target price on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Seventeen equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.60.

PayPal Stock Down 0.3 %

Shares of PYPL opened at $89.05 on Friday. 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 market capitalization of $89.27 billion, a PE ratio of 21.25, a P/E/G ratio of 1.52 and a beta of 1.44. The firm’s 50 day moving average is $82.43 and its 200-day moving average is $71.09. PayPal has a 12 month low of $55.77 and a 12 month high of $90.27.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 EPS. Equities research analysts forecast that PayPal will post 4.57 EPS for the current year.

Hedge Funds Weigh In On PayPal

A number of institutional investors and hedge funds have recently modified their holdings of PYPL. Bruce G. Allen Investments LLC lifted its position in shares of PayPal by 7.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock valued at $141,000 after acquiring an additional 124 shares during the period. First United Bank & Trust increased its stake in PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock valued at $187,000 after purchasing an additional 145 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of PayPal by 3.3% during the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock valued at $369,000 after purchasing an additional 152 shares during the period. Laraway Financial Advisors Inc boosted its position in shares of PayPal by 3.8% during the 3rd quarter. Laraway Financial Advisors Inc now owns 4,228 shares of the credit services provider’s stock worth $330,000 after purchasing an additional 154 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC grew its stake in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares during the period. 68.32% of the stock is currently owned by institutional investors.

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.