Novare Capital Management LLC Raises Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Novare Capital Management LLC raised its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 21.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,225 shares of the credit services provider’s stock after buying an additional 750 shares during the quarter. Novare Capital Management LLC’s holdings in PayPal were worth $361,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PayPal during the 3rd quarter worth approximately $26,000. Rosenberg Matthew Hamilton boosted its position in shares of PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after buying an additional 125 shares during the period. Sugarloaf Wealth Management LLC grew its stake in shares of PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares in the last quarter. Planning Capital Management Corp raised its holdings in shares of PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after buying an additional 268 shares during the period. Finally, Financial Management Professionals Inc. lifted its stake in PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of PayPal stock opened at $89.11 on Friday. The stock has a market capitalization of $89.34 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.54 and a beta of 1.44. The firm’s fifty day simple moving average is $87.76 and its 200-day simple moving average is $77.79. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. PayPal Holdings, Inc. has a 12 month low of $55.77 and a 12 month high of $93.66.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating 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 business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the prior year, the company earned $0.97 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 4.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on PYPL. Citigroup boosted their price target on shares of PayPal from $94.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Oppenheimer started coverage on shares of PayPal in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. UBS Group boosted their price target on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets increased their price objective on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, Bank of America raised PayPal from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $86.00 to $103.00 in a research note on Monday, December 9th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and an average target price of $89.48.

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.