Synovus Financial Corp Grows Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Synovus Financial Corp boosted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 33.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 64,693 shares of the credit services provider's stock after acquiring an additional 16,306 shares during the quarter. Synovus Financial Corp's holdings in PayPal were worth $5,048,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PYPL. Gordian Capital Singapore Pte Ltd purchased a new stake in PayPal in the 3rd quarter valued at about $26,000. Planning Capital Management Corp increased its position in shares of PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock valued at $32,000 after acquiring an additional 268 shares during the last quarter. Financial Management Professionals Inc. lifted 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 worth $34,000 after acquiring an additional 243 shares during the period. Legacy Investment Solutions LLC purchased a new position in PayPal in the third quarter worth $36,000. Finally, Family Firm Inc. bought a new position in PayPal in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 68.32% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PYPL. Wells Fargo & Company lifted their target price on PayPal from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Macquarie lifted their price objective on shares of PayPal from $90.00 to $95.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. BMO Capital Markets increased their target price on shares of PayPal from $73.00 to $82.00 and gave the company a "market perform" rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of PayPal from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods upped their price objective on PayPal from $92.00 to $104.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $86.74.

PayPal Price Performance

PYPL stock traded up $1.62 during midday trading on Friday, reaching $91.02. The company had a trading volume of 8,358,050 shares, compared to its average volume of 13,055,767. The firm has a 50-day moving average price of $83.87 and a 200-day moving average price of $72.23. The company has a market capitalization of $91.25 billion, a P/E ratio of 21.72, a P/E/G ratio of 1.66 and a beta of 1.44. PayPal Holdings, Inc. has a 1 year low of $55.77 and a 1 year high of $93.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same period in the previous year, the business earned $0.97 earnings per share. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. On average, research analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

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.