Needham & Company LLC Reiterates “Hold” Rating for PayPal (NASDAQ:PYPL)

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

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group raised their price target on PayPal from $69.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $84.00 target price on shares of PayPal in a report on Wednesday, July 31st. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $68.00 to $72.00 in a report on Friday, August 9th. StockNews.com cut PayPal from a “buy” rating to a “hold” rating in a report on Saturday, October 26th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $80.00 price objective on shares of PayPal in a report on Wednesday, July 31st. Seventeen analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PayPal has a consensus rating of “Moderate Buy” and an average price target of $82.03.

PayPal Stock Down 2.6 %

Shares of PYPL opened at $78.22 on Wednesday. The business’s 50 day moving average is $76.24 and its 200 day moving average is $67.48. The company has a market capitalization of $81.82 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. PayPal has a 12-month low of $50.80 and a 12-month high of $83.70. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. Research analysts expect that PayPal will post 4.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC grew its stake in PayPal by 7.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after buying an additional 124 shares during the last quarter. First United Bank & Trust grew its stake in PayPal by 6.4% during the 3rd quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after buying an additional 145 shares during the last quarter. Ritholtz Wealth Management grew its stake in PayPal by 3.3% during the 3rd quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after buying an additional 152 shares during the last quarter. SYSTM Wealth Solutions LLC grew its stake in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares during the last quarter. Finally, First Bank & Trust grew its stake in PayPal by 4.4% during the 3rd quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock worth $313,000 after buying an additional 171 shares during the last quarter. 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.