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

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

Other equities research analysts have also recently issued research reports about the company. Barclays increased their price objective on PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Susquehanna lifted their price target on shares of PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a report on Monday, January 6th. The Goldman Sachs Group upped their price objective on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of PayPal in a research report on Thursday, December 12th. Fourteen equities 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.55.

PayPal Stock Down 2.7 %

Shares of NASDAQ PYPL opened at $72.05 on Wednesday. The firm’s fifty day moving average is $84.25 and its 200 day moving average is $80.96. PayPal has a 52 week low of $56.97 and a 52 week high of $93.66. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a market cap of $71.27 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 1.27 and a beta of 1.44.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Relyea Zuckerberg Hanson LLC increased its holdings in PayPal by 113.8% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after buying an additional 3,976 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of PayPal in the third quarter worth approximately $387,435,000. United Advisor Group LLC bought a new stake in shares of PayPal in the third quarter worth approximately $810,000. Equity Investment Corp raised its holdings in shares of PayPal by 3.5% during the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after purchasing an additional 67,497 shares during the last quarter. Finally, Weil Company Inc. lifted its position in PayPal by 68.9% during the third quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after purchasing an additional 17,003 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.