PayPal (NASDAQ:PYPL) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of PayPal (NASDAQ:PYPL) in a report published on Tuesday, Benzinga reports.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group dropped their target price on shares of PayPal from $100.00 to $80.00 and set a buy rating for the company in a research report on Thursday, February 8th. Evercore ISI boosted their price objective on shares of PayPal from $56.00 to $60.00 and gave the company an in-line rating in a research report on Tuesday, March 26th. Daiwa Capital Markets downgraded shares of PayPal from an outperform rating to a neutral rating and lowered their price objective for the company from $64.00 to $62.00 in a research report on Tuesday, February 13th. StockNews.com raised shares of PayPal from a hold rating to a buy rating in a research report on Friday, April 5th. Finally, Wedbush reaffirmed an outperform rating and set a $85.00 price objective on shares of PayPal in a research report on Thursday, February 8th. Twenty-four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, PayPal has an average rating of Hold and a consensus target price of $70.72.

PayPal Stock Performance

PayPal stock opened at $67.92 on Tuesday. PayPal has a 12-month low of $50.25 and a 12-month high of $76.54. The company has a market capitalization of $71.50 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 1.23 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29. The firm’s fifty day moving average price is $63.21 and its 200 day moving average price is $60.35.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). The company had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. PayPal’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 EPS. On average, research analysts forecast that PayPal will post 4.02 EPS for the current fiscal year.

Insider Buying and Selling at PayPal

In other PayPal news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the transaction, the senior vice president now owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Institutional Trading of PayPal

A number of institutional investors have recently made changes to their positions in the business. Morgan Stanley lifted its position in shares of PayPal by 4.5% in the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after purchasing an additional 873,181 shares in the last quarter. Norges Bank bought a new stake in shares of PayPal in the fourth quarter worth $749,561,000. Northern Trust Corp lifted its position in shares of PayPal by 0.7% in the third quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock worth $687,902,000 after purchasing an additional 78,105 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of PayPal by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock worth $428,449,000 after purchasing an additional 265,116 shares in the last quarter. Finally, FMR LLC lifted its position in shares of PayPal by 29.5% in the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock worth $404,367,000 after purchasing an additional 1,575,930 shares in the last quarter. 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.