PayPal (NASDAQ:PYPL) Rating Lowered to "Hold" at Arete Research

PayPal (NASDAQ:PYPL - Get Free Report) was downgraded by Arete Research from a "strong-buy" rating to a "hold" rating in a report issued on Thursday,Zacks.com reports.

Several other research analysts have also weighed in on the company. Bank of America upgraded PayPal from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Needham & Company LLC reissued a "hold" rating on shares of PayPal in a research note on Wednesday, February 26th. Citigroup restated an "outperform" rating on shares of PayPal in a report on Wednesday, February 5th. JPMorgan Chase & Co. reiterated an "overweight" rating on shares of PayPal in a report on Tuesday, February 4th. Finally, BTIG Research restated a "neutral" rating on shares of PayPal in a report on Tuesday, February 4th. Sixteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, PayPal has a consensus rating of "Moderate Buy" and a consensus price target of $89.40.

PayPal Trading Up 0.2 %

Shares of PayPal stock traded up $0.10 during trading on Thursday, reaching $65.25. 11,314,037 shares of the company were exchanged, compared to its average volume of 11,226,503. PayPal has a twelve month low of $56.97 and a twelve month high of $93.66. The business has a 50-day moving average price of $76.28 and a 200-day moving average price of $80.90. 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 firm has a market capitalization of $64.55 billion, a price-to-earnings ratio of 16.27, a P/E/G ratio of 1.27 and a beta of 1.52.

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PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.08. The business had revenue of $8.37 billion for 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%. PayPal's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the company posted $1.48 EPS. Sell-side analysts anticipate that PayPal will post 5.03 EPS for the current fiscal year.

Insider Activity at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the sale, the director now owns 29,734 shares in the company, valued at $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

Institutional Trading of PayPal

Several hedge funds have recently added to or reduced their stakes in the company. United Bank grew its stake in shares of PayPal by 9.7% in the third quarter. United Bank now owns 8,941 shares of the credit services provider's stock valued at $698,000 after acquiring an additional 794 shares in the last quarter. Townsquare Capital LLC boosted its holdings in PayPal by 23.1% in the 3rd quarter. Townsquare Capital LLC now owns 41,561 shares of the credit services provider's stock valued at $3,243,000 after purchasing an additional 7,812 shares during the period. Freedom Investment Management Inc. acquired a new position in shares of PayPal during the 3rd quarter worth approximately $359,000. CreativeOne Wealth LLC bought a new position in shares of PayPal during the third quarter worth approximately $582,000. Finally, Public Sector Pension Investment Board raised its position in shares of PayPal by 4.3% in the third quarter. Public Sector Pension Investment Board now owns 48,228 shares of the credit services provider's stock valued at $3,763,000 after buying an additional 2,000 shares in 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.