PayPal (NASDAQ:PYPL) Stock Rating Reaffirmed by Needham & Company LLC

PayPal (NASDAQ:PYPL)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a report issued on Wednesday, Benzinga reports.

A number of other research firms also recently commented on PYPL. Barclays lifted their target price on shares of PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Oppenheimer initiated coverage on shares of PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. UBS Group boosted their price objective on shares of PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $78.00 price objective on shares of PayPal in a research report on Wednesday, September 18th. Finally, 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. Seventeen research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.13.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $80.28 on Wednesday. PayPal has a twelve month low of $50.58 and a twelve month high of $83.70. The firm has a market cap of $83.98 billion, a P/E ratio of 20.22, a PEG ratio of 1.51 and a beta of 1.44. The company has a 50 day moving average of $76.10 and a 200 day moving average of $67.41. 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 posted its earnings results 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 14.30% and a return on equity of 22.82%. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the previous year, the firm posted $0.97 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. As a group, research analysts expect that PayPal will post 4.44 EPS for the current fiscal year.

Hedge Funds Weigh In On PayPal

Hedge funds have recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. grew its stake in PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares in the last quarter. Family Firm Inc. bought a new position in PayPal in the 2nd quarter worth about $29,000. SYSTM Wealth Solutions LLC grew its stake in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. Tortoise Investment Management LLC grew its stake in PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 465 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in PayPal by 65.8% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 185 shares in the last quarter. 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.