PayPal (NASDAQ:PYPL) Coverage Initiated at Oppenheimer

Equities research analysts at Oppenheimer began coverage on shares of PayPal (NASDAQ:PYPL) in a research note issued on Tuesday, StockNewsAPI reports. The firm set a “market perform” rating on the credit services provider’s stock.

Several other brokerages have also recently issued reports on PYPL. Canaccord Genuity Group restated a “buy” rating and set a $80.00 price objective on shares of PayPal in a research note on Wednesday, July 31st. TD Cowen increased their target price on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised their price target on shares of PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $69.00 target price on shares of PayPal in a research note on Thursday, September 19th. Finally, UBS Group increased their target price on shares of PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Seventeen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.38.

PayPal Stock Up 0.2 %

PayPal stock opened at $78.03 on Tuesday. PayPal has a 1-year low of $50.25 and a 1-year high of $80.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $81.62 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The stock’s 50 day moving average price is $69.12 and its 200 day moving average price is $65.21.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 earnings per share. On average, sell-side analysts predict that PayPal will post 4.42 EPS for the current fiscal year.

Institutional Trading of PayPal

Hedge funds and other institutional investors have recently bought and sold shares of the business. SYSTM Wealth Solutions LLC grew its holdings in PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares during the last quarter. Pittenger & Anderson Inc. raised its holdings in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the period. Verity Asset Management Inc. increased its holdings in shares of PayPal by 1.9% during the 1st quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock worth $650,000 after buying an additional 181 shares during the last quarter. Indiana Trust & Investment Management CO increased its stake in PayPal by 18.6% during the first quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock worth $79,000 after acquiring an additional 184 shares during the last quarter. Finally, Checchi Capital Advisers LLC lifted its stake in shares of PayPal by 3.1% in the 2nd quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock valued at $358,000 after purchasing an additional 184 shares during the last quarter. Hedge funds and other 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.