PayPal (NASDAQ:PYPL) Stock Rating Lowered by Sanford C. Bernstein

Sanford C. Bernstein downgraded shares of PayPal (NASDAQ:PYPL) from an outperform rating to a market perform rating in a research note released on Thursday, MarketBeat Ratings reports. They currently have $80.00 price target on the credit services provider’s stock, up from their previous price target of $75.00.

PYPL has been the subject of several other reports. Monness Crespi & Hardt upped their price target on PayPal from $80.00 to $88.00 and gave the stock a buy rating in a research note on Monday, July 29th. Argus upgraded PayPal from a hold rating to a buy rating in a research report on Wednesday, July 31st. Oppenheimer initiated coverage on PayPal in a report on Tuesday, October 1st. They set a market perform rating for the company. Evercore ISI boosted their price target on shares of PayPal from $65.00 to $70.00 and gave the stock an in-line rating in a research report on Tuesday, June 25th. Finally, TD Cowen lifted their price objective on shares of PayPal from $68.00 to $70.00 and gave the stock a hold rating in a research note on Wednesday, July 31st. Seventeen investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PayPal has a consensus rating of Moderate Buy and a consensus target price of $76.71.

PayPal Stock Up 1.9 %

PayPal stock opened at $80.51 on Thursday. PayPal has a 12 month low of $50.25 and a 12 month high of $82.00. The stock has a fifty day simple moving average of $72.42 and a two-hundred day simple moving average of $66.12. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a market cap of $84.22 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.49 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter in the prior year, the business earned $0.83 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities analysts predict that PayPal will post 4.42 EPS for the current fiscal year.

Hedge Funds Weigh In On PayPal

Large investors have recently bought and sold shares of the business. C M Bidwell & Associates Ltd. bought a new position in PayPal in the fourth quarter worth about $94,000. Blue Grotto Capital LLC boosted its stake in PayPal by 7.3% in the fourth quarter. Blue Grotto Capital LLC now owns 430,255 shares of the credit services provider’s stock valued at $26,422,000 after acquiring an additional 29,276 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its stake in PayPal by 8.5% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 9,414 shares of the credit services provider’s stock valued at $594,000 after acquiring an additional 740 shares in the last quarter. Greenvale Capital LLP grew its holdings in PayPal by 54.5% in the fourth quarter. Greenvale Capital LLP now owns 1,700,000 shares of the credit services provider’s stock worth $104,397,000 after purchasing an additional 600,000 shares during the last quarter. Finally, Gotham Asset Management LLC increased its position in shares of PayPal by 953.6% during the fourth quarter. Gotham Asset Management LLC now owns 335,460 shares of the credit services provider’s stock worth $20,601,000 after purchasing an additional 303,622 shares in the last quarter. 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.