Needham & Company LLC Reaffirms Hold Rating for PayPal (NASDAQ:PYPL)

PayPal (NASDAQ:PYPL)‘s stock had its “hold” rating reissued by investment analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports.

A number of other analysts have also recently weighed in on the stock. Susquehanna increased their price target on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research note on Monday, January 6th. The Goldman Sachs Group increased their price target on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Canaccord Genuity Group increased their price target on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of PayPal in a research note on Wednesday, February 5th. Fourteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.97.

PayPal Trading Down 1.8 %

Shares of PayPal stock opened at $70.73 on Wednesday. The company has a fifty day simple moving average of $83.93 and a 200-day simple moving average of $80.89. PayPal has a 12-month low of $56.97 and a 12-month high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $69.97 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 1.27 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the prior year, the business posted $1.48 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities analysts forecast that PayPal will post 5.03 EPS for the current fiscal year.

Institutional Investors Weigh In On PayPal

A number of large investors have recently added to or reduced their stakes in PYPL. Mpwm Advisory Solutions LLC acquired a new stake in shares of PayPal during the 4th quarter worth about $25,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of PayPal during the 3rd quarter worth about $26,000. Rosenberg Matthew Hamilton boosted its stake in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares during the last quarter. Hurley Capital LLC acquired a new stake in shares of PayPal during the 4th quarter worth about $27,000. Finally, Sugarloaf Wealth Management LLC boosted its stake in shares of PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

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.