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

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

Other equities analysts also recently issued research reports about the company. Susquehanna increased their price objective on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a report on Wednesday, July 31st. BMO Capital Markets increased their price objective on PayPal from $72.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Wells Fargo & Company increased their price objective on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Barclays increased their target price on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, UBS Group increased their target price on PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Seventeen analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.03.

PayPal Price Performance

Shares of PayPal stock opened at $78.22 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a market cap of $81.82 billion, a PE ratio of 19.70, a P/E/G ratio of 1.51 and a beta of 1.44. The business has a 50 day moving average of $76.24 and a 200 day moving average of $67.48. PayPal has a 52 week low of $50.80 and a 52 week high of $83.70.

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 $1.08 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 22.82% and a net margin of 14.30%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. As a group, equities research analysts forecast that PayPal will post 4.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PYPL. Allspring Global Investments Holdings LLC raised its stake in shares of PayPal by 18.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock worth $15,686,000 after buying an additional 36,994 shares during the period. Norden Group LLC raised its stake in shares of PayPal by 197.3% in the first quarter. Norden Group LLC now owns 82,620 shares of the credit services provider’s stock worth $5,535,000 after buying an additional 54,832 shares during the period. First Trust Direct Indexing L.P. raised its stake in shares of PayPal by 23.3% in the first quarter. First Trust Direct Indexing L.P. now owns 23,463 shares of the credit services provider’s stock worth $1,572,000 after buying an additional 4,434 shares during the period. Van ECK Associates Corp raised its stake in shares of PayPal by 33.8% in the first quarter. Van ECK Associates Corp now owns 77,308 shares of the credit services provider’s stock worth $5,179,000 after buying an additional 19,510 shares during the period. Finally, Private Advisor Group LLC raised its stake in PayPal by 14.2% during the 1st quarter. Private Advisor Group LLC now owns 168,866 shares of the credit services provider’s stock valued at $11,312,000 after purchasing an additional 21,047 shares during the period. Institutional investors own 68.32% of the company’s stock.

PayPal Company Profile

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.