PayPal (NASDAQ:PYPL) Rating Reiterated by Needham & Company LLC

PayPal (NASDAQ:PYPL)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports.

Several other equities research analysts have also commented on the stock. Sanford C. Bernstein boosted their price objective on shares of PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Wedbush restated an “outperform” rating and set a $85.00 price objective on shares of PayPal in a research report on Thursday, February 8th. Daiwa Capital Markets cut PayPal from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $64.00 to $62.00 in a report on Tuesday, February 13th. UBS Group boosted their price target on PayPal from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Finally, StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Twenty-four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $70.72.

PayPal Price Performance

Shares of NASDAQ PYPL traded up $0.78 during midday trading on Tuesday, hitting $67.77. The company had a trading volume of 31,878,573 shares, compared to its average volume of 16,442,420. The firm has a market capitalization of $71.34 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 1.23 and a beta of 1.45. PayPal has a twelve month low of $50.25 and a twelve month high of $76.54. The business has a 50-day simple moving average of $63.03 and a two-hundred day simple moving average of $60.27. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 20.84%. The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. PayPal’s revenue was up 9.4% on a year-over-year basis. Equities research analysts anticipate that PayPal will post 4.02 earnings per share for the current year.

Insider Activity at PayPal

In other news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the transaction, the senior vice president now owns 23,430 shares in the company, valued at approximately $1,420,795.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PayPal

A number of large investors have recently bought and sold shares of PYPL. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of PayPal in the 4th quarter worth about $25,000. Sutton Wealth Advisors Inc. grew its position in PayPal by 115.0% in the 3rd quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 237 shares during the last quarter. American National Bank acquired a new stake in shares of PayPal in the first quarter valued at approximately $27,000. Private Wealth Management Group LLC bought a new stake in shares of PayPal during the fourth quarter valued at approximately $29,000. Finally, Register Financial Advisors LLC acquired a new position in shares of PayPal during the first quarter worth approximately $30,000. 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.