PayPal (NASDAQ:PYPL) Downgraded by StockNews.com

StockNews.com cut shares of PayPal (NASDAQ:PYPL) from a buy rating to a hold rating in a research note released on Thursday.

A number of other research analysts have also weighed in on PYPL. Argus raised shares of PayPal from a hold rating to a buy rating in a research report on Wednesday, July 31st. Citigroup lifted their target price on shares of PayPal from $79.00 to $81.00 and gave the stock a buy rating in a research report on Monday, June 10th. Jefferies Financial Group reduced their target price on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. William Blair upgraded PayPal to a hold rating in a report on Tuesday, July 30th. Finally, Mizuho restated an outperform rating and issued a $90.00 price objective on shares of PayPal in a research note on Tuesday, August 20th. Seventeen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PayPal presently has an average rating of Moderate Buy and a consensus price target of $75.58.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $76.76 on Thursday. The stock has a market cap of $80.29 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 1.01 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. PayPal has a fifty-two week low of $50.25 and a fifty-two week high of $78.25. The firm’s 50-day simple moving average is $67.01 and its 200 day simple moving average is $64.46.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same quarter last year, the company earned $0.83 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts anticipate that PayPal will post 4.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PayPal

Hedge funds and other institutional investors have recently modified their holdings of the company. Primecap Management Co. CA lifted its position in PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after buying an additional 3,184,160 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after acquiring an additional 1,866,925 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of PayPal by 125.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after purchasing an additional 958,130 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of PayPal by 31.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after purchasing an additional 687,940 shares during the last quarter. Finally, Swedbank AB purchased a new position in PayPal in the 1st quarter worth $42,297,000. 68.32% of the stock is currently owned by hedge funds and other 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.