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

Needham & Company LLC reaffirmed their hold rating on shares of PayPal (NASDAQ:PYPL - Free Report) in a research report released on Wednesday, Benzinga reports.

Several other brokerages also recently issued reports on PYPL. Wells Fargo & Company boosted their price target on shares of PayPal from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Mizuho upped their target price on shares of PayPal from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Daiwa Capital Markets upgraded shares of PayPal from a "neutral" rating to an "outperform" rating and raised their price target for the company from $68.00 to $72.00 in a research note on Friday, August 9th. Canaccord Genuity Group reiterated a "buy" rating and set a $80.00 price objective on shares of PayPal in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $84.00 target price on shares of PayPal in a research report on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.07.

PayPal Stock Performance

Shares of NASDAQ PYPL traded down $0.96 during midday trading on Wednesday, hitting $79.32. The company's stock had a trading volume of 7,765,250 shares, compared to its average volume of 13,608,134. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. PayPal has a 1-year low of $50.80 and a 1-year high of $83.70. The firm's fifty day moving average price is $76.10 and its 200-day moving average price is $67.41. The firm has a market cap of $82.97 billion, a P/E ratio of 20.00, a P/E/G ratio of 1.51 and a beta of 1.44.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.12. The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. PayPal's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 earnings per share. On average, sell-side analysts forecast that PayPal will post 4.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PYPL. Pittenger & Anderson Inc. boosted its position in PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider's stock worth $26,000 after purchasing an additional 172 shares during the period. Financial Management Professionals Inc. boosted its holdings in PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider's stock valued at $34,000 after acquiring an additional 243 shares during the period. CarsonAllaria Wealth Management Ltd. increased its stake in shares of PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider's stock worth $31,000 after purchasing an additional 185 shares during the period. Family Firm Inc. acquired a new position in shares of PayPal during the 2nd quarter worth about $29,000. Finally, SYSTM Wealth Solutions LLC grew its holdings in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock valued at $29,000 after buying an additional 167 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

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.