PayPal (NASDAQ:PYPL) Stock Rating Lowered by StockNews.com

PayPal (NASDAQ:PYPL) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

PYPL has been the subject of several other reports. Canaccord Genuity Group restated a “buy” rating and set a $80.00 price target on shares of PayPal in a research note on Wednesday, July 31st. The Goldman Sachs Group increased their target price on shares of PayPal from $69.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Mizuho lifted their price target on shares of PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. UBS Group increased their price objective on shares of PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, William Blair upgraded shares of PayPal to a “hold” rating in a report on Tuesday, July 30th. Seventeen research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.03.

PayPal Trading Up 0.4 %

Shares of PYPL stock opened at $81.70 on Friday. The firm’s 50-day simple moving average is $75.38 and its 200-day simple moving average is $67.05. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. PayPal has a 1-year low of $50.25 and a 1-year high of $82.80. The firm has a market cap of $85.46 billion, a P/E ratio of 20.58, a PEG ratio of 1.50 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter last year, the firm posted $0.83 earnings per share. PayPal’s revenue was up 8.2% on a year-over-year basis. As a group, equities analysts forecast that PayPal will post 4.44 EPS for the current year.

Institutional Trading of PayPal

Several institutional investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA boosted its position in PayPal by 180.7% during the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after purchasing an additional 3,184,160 shares during the period. Clearbridge Investments LLC lifted its stake in PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of PayPal by 9,864.9% during the third quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock valued at $87,336,000 after acquiring an additional 1,108,030 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of PayPal by 31.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock worth $194,262,000 after acquiring an additional 687,940 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of PayPal in the 1st quarter worth about $42,297,000. Institutional investors own 68.32% of the company’s stock.

About PayPal

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.