Myriad Asset Management US LP Takes $2.17 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Myriad Asset Management US LP acquired a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 25,432 shares of the credit services provider’s stock, valued at approximately $2,171,000. PayPal makes up 1.5% of Myriad Asset Management US LP’s portfolio, making the stock its 17th biggest holding.

Several other hedge funds also recently modified their holdings of PYPL. Relyea Zuckerberg Hanson LLC increased its stake in PayPal by 113.8% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after purchasing an additional 3,976 shares in the last quarter. World Investment Advisors LLC bought a new stake in PayPal during the 3rd quarter valued at $387,435,000. United Advisor Group LLC purchased a new position in PayPal during the 3rd quarter worth $810,000. FCG Investment Co purchased a new position in PayPal during the 3rd quarter worth $1,079,000. Finally, Equity Investment Corp boosted its holdings in PayPal by 3.5% during the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock worth $155,927,000 after acquiring an additional 67,497 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PYPL. Canaccord Genuity Group upped their price objective on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt increased their price objective on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Stephens increased their price objective on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. BMO Capital Markets raised their price target on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Wednesday, February 5th. Thirteen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.52.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $77.97 on Friday. The business’s fifty day moving average price is $86.66 and its two-hundred day moving average price is $80.01. The stock has a market cap of $77.13 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 1.29 and a beta of 1.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.26. PayPal Holdings, Inc. has a one year low of $56.97 and a one year high of $93.66.

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, topping the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the firm earned $1.48 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. On average, analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

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.