PayPal (NASDAQ:PYPL) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of PayPal (NASDAQ:PYPL) in a report published on Wednesday, Benzinga reports.

PYPL has been the subject of several other reports. Oppenheimer assumed coverage on PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. William Blair upgraded shares of PayPal to a “hold” rating in a report on Tuesday, July 30th. Macquarie boosted their target price on shares of PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. StockNews.com downgraded shares of PayPal from a “buy” rating to a “hold” rating in a report on Saturday, October 26th. Finally, Monness Crespi & Hardt boosted their target price on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Seventeen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.29.

PayPal Stock Down 2.6 %

Shares of PYPL opened at $77.25 on Wednesday. The company has a market cap of $77.45 billion, a PE ratio of 18.44, a P/E/G ratio of 1.40 and a beta of 1.44. The business has a fifty day moving average of $76.50 and a 200 day moving average of $67.66. PayPal has a 52-week low of $52.55 and a 52-week high of $83.70. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. PayPal’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the company earned $0.97 earnings per share. On average, sell-side analysts expect that PayPal will post 4.54 EPS for the current year.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently bought and sold shares of the stock. Covestor Ltd boosted its position in PayPal by 15.4% in the 3rd quarter. Covestor Ltd now owns 2,602 shares of the credit services provider’s stock worth $203,000 after purchasing an additional 347 shares in the last quarter. Troy Asset Management Ltd raised its stake in shares of PayPal by 7.1% during the 3rd quarter. Troy Asset Management Ltd now owns 382,814 shares of the credit services provider’s stock worth $29,871,000 after buying an additional 25,380 shares during the period. Atria Investments Inc raised its stake in shares of PayPal by 17.1% during the 3rd quarter. Atria Investments Inc now owns 107,964 shares of the credit services provider’s stock worth $8,424,000 after buying an additional 15,741 shares during the period. Demars Financial Group LLC raised its stake in shares of PayPal by 4.8% during the 3rd quarter. Demars Financial Group LLC now owns 6,764 shares of the credit services provider’s stock worth $528,000 after buying an additional 309 shares during the period. Finally, Beta Wealth Group Inc. raised its stake in shares of PayPal by 4.1% during the 3rd quarter. Beta Wealth Group Inc. now owns 7,700 shares of the credit services provider’s stock worth $601,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

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.