Archer Investment Corp Purchases 400 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Archer Investment Corp lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 73.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 945 shares of the credit services provider’s stock after purchasing an additional 400 shares during the quarter. Archer Investment Corp’s holdings in PayPal were worth $55,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Founders Financial Securities LLC grew its position in PayPal by 20.3% in the second quarter. Founders Financial Securities LLC now owns 8,778 shares of the credit services provider’s stock valued at $509,000 after purchasing an additional 1,479 shares in the last quarter. Tortoise Investment Management LLC grew its holdings in shares of PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 465 shares in the last quarter. TIAA Trust National Association increased its position in shares of PayPal by 1,542.3% in the second quarter. TIAA Trust National Association now owns 205,522 shares of the credit services provider’s stock valued at $11,926,000 after acquiring an additional 193,008 shares during the last quarter. Klingenstein Fields & Co. LP raised its holdings in PayPal by 0.7% during the second quarter. Klingenstein Fields & Co. LP now owns 331,289 shares of the credit services provider’s stock worth $19,225,000 after acquiring an additional 2,395 shares in the last quarter. Finally, Resonant Capital Advisors LLC boosted its position in PayPal by 1.4% during the second quarter. Resonant Capital Advisors LLC now owns 30,070 shares of the credit services provider’s stock valued at $1,745,000 after purchasing an additional 418 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Up 0.8 %

Shares of PYPL opened at $72.61 on Thursday. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $73.93. The stock has a fifty day moving average of $64.01 and a 200-day moving average of $63.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $74.23 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.03 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $7.82 billion. During the same period in the previous year, the business posted $0.83 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PYPL. William Blair raised PayPal to a “hold” rating in a report on Tuesday, July 30th. The Goldman Sachs Group reissued a “neutral” rating and issued a $69.00 price objective on shares of PayPal in a research report on Monday, June 24th. Susquehanna raised their target price on shares of PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a research note on Wednesday, July 31st. Robert W. Baird boosted their price target on PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, New Street Research assumed coverage on PayPal in a research note on Friday, May 31st. They set a “buy” rating and a $80.00 target price for the company. Eighteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and a consensus price target of $75.56.

PayPal 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.