Commonwealth Equity Services LLC boosted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 1.4% in the 2nd quarter, Holdings Channel reports. The firm owned 345,237 shares of the credit services provider’s stock after acquiring an additional 4,654 shares during the quarter. Commonwealth Equity Services LLC’s holdings in PayPal were worth $23,038,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Impax Asset Management Group plc raised its holdings in shares of PayPal by 3.6% in the 2nd quarter. Impax Asset Management Group plc now owns 33,128 shares of the credit services provider’s stock valued at $2,211,000 after acquiring an additional 1,136 shares in the last quarter. DoubleLine ETF Adviser LP purchased a new stake in shares of PayPal in the 1st quarter valued at about $973,000. Investment House LLC raised its holdings in shares of PayPal by 10.8% in the 2nd quarter. Investment House LLC now owns 179,122 shares of the credit services provider’s stock valued at $11,953,000 after acquiring an additional 17,393 shares in the last quarter. Curated Wealth Partners LLC raised its holdings in shares of PayPal by 5.2% in the 2nd quarter. Curated Wealth Partners LLC now owns 3,683 shares of the credit services provider’s stock valued at $246,000 after acquiring an additional 182 shares in the last quarter. Finally, Naviter Wealth LLC raised its holdings in shares of PayPal by 6.7% in the 2nd quarter. Naviter Wealth LLC now owns 6,276 shares of the credit services provider’s stock valued at $419,000 after acquiring an additional 394 shares in the last quarter. Institutional investors own 68.42% of the company’s stock.
Wall Street Analysts Forecast Growth
PYPL has been the topic of a number of research reports. DZ Bank raised PayPal from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Friday, November 3rd. Royal Bank of Canada decreased their price objective on PayPal from $86.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, November 2nd. Barclays decreased their price objective on PayPal from $92.00 to $88.00 and set an “overweight” rating on the stock in a report on Friday, August 4th. Mizuho decreased their price objective on PayPal from $92.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, November 14th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $80.00 price objective on shares of PayPal in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and a consensus price target of $78.77.
PayPal Trading Up 0.8 %
NASDAQ PYPL opened at $56.99 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.54. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $88.63. The firm has a market capitalization of $61.44 billion, a PE ratio of 16.96, a P/E/G ratio of 0.91 and a beta of 1.38. The stock’s 50 day moving average is $56.85 and its 200 day moving average is $62.48.
PayPal (NASDAQ:PYPL – Get Free Report) last released its quarterly earnings results on Wednesday, November 1st. The credit services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.08. PayPal had a return on equity of 20.78% and a net margin of 12.93%. The company had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.39 billion. During the same period in the previous year, the company posted $0.87 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. Research analysts forecast that PayPal Holdings, Inc. will post 3.84 earnings per share for the current fiscal year.
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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