PayPal’s (PYPL) Hold Rating Reiterated at Needham & Company LLC

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

A number of other analysts also recently issued reports on PYPL. Robert W. Baird lifted their price objective on shares of PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Phillip Securities reiterated an “accumulate” rating and issued a $90.00 price objective (up from $80.00) on shares of PayPal in a report on Friday, November 1st. Piper Sandler lifted their price objective on shares of PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a report on Friday, January 24th. UBS Group boosted their target price on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price on the stock in a report on Friday, December 13th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.29.

PayPal Stock Performance

Shares of PYPL opened at $77.31 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. PayPal has a twelve month low of $55.77 and a twelve month high of $93.66. The firm’s 50 day moving average price is $87.71 and its two-hundred day moving average price is $79.38. The firm has a market cap of $76.48 billion, a P/E ratio of 18.45, a PEG ratio of 1.49 and a beta of 1.44.

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

Institutional Investors Weigh In On PayPal

Several institutional investors and hedge funds have recently bought and sold shares of PYPL. Mizuho Securities USA LLC lifted its position in PayPal by 12,919.4% during 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 period. FMR LLC raised its stake in PayPal by 86.3% during the third 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. World Investment Advisors LLC acquired a new position in PayPal during the third quarter worth about $387,435,000. Robeco Institutional Asset Management B.V. raised its stake in PayPal by 174.1% during the fourth 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 acquiring an additional 2,689,162 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in PayPal during the fourth quarter worth about $135,537,000. Institutional investors own 68.32% of the company’s stock.

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.