PayPal (NASDAQ:PYPL) Rating Reiterated by Needham & Company LLC

PayPal (NASDAQ:PYPL)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports.

Several other research firms also recently issued reports on PYPL. Wells Fargo & Company upped their price objective on PayPal from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Mizuho dropped their target price on shares of PayPal from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. JPMorgan Chase & Co. lowered their price target on PayPal from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. Daiwa Capital Markets lowered shares of PayPal from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $64.00 to $62.00 in a research note on Tuesday, February 13th. Finally, Sanford C. Bernstein raised their target price on shares of PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Twenty-five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, PayPal presently has a consensus rating of “Hold” and a consensus price target of $72.73.

PayPal Trading Down 2.6 %

Shares of PayPal stock opened at $66.14 on Tuesday. PayPal has a 12-month low of $50.25 and a 12-month high of $76.54. The stock has a market capitalization of $69.62 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 1.25 and a beta of 1.45. The company has a 50-day simple moving average of $63.39 and a 200 day simple moving average of $60.39. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data 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 firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. Research analysts expect that PayPal will post 4.02 earnings per share for the current fiscal year.

Insider Activity at PayPal

In other PayPal news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the sale, the senior vice president now owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PayPal

Several hedge funds have recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in PayPal in the fourth quarter valued at approximately $25,000. American National Bank acquired a new position in PayPal in the 1st quarter valued at approximately $27,000. Sutton Wealth Advisors Inc. raised its stake in shares of PayPal by 115.0% during the third quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 237 shares during the last quarter. Register Financial Advisors LLC bought a new stake in shares of PayPal in the 1st quarter valued at about $30,000. Finally, Private Wealth Management Group LLC acquired a new stake in PayPal during the 4th quarter valued at approximately $29,000. 68.32% of the stock is owned by 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.