PayPal (NASDAQ:PYPL) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of PayPal (NASDAQ:PYPL) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

PYPL has been the subject of a number of other research reports. Canaccord Genuity Group reissued a buy rating and set a $80.00 target price on shares of PayPal in a research report on Wednesday, July 31st. Argus raised shares of PayPal from a hold rating to a buy rating in a research note on Wednesday, July 31st. Evercore ISI upped their price target on shares of PayPal from $65.00 to $70.00 and gave the company an in-line rating in a research report on Tuesday, June 25th. JPMorgan Chase & Co. lifted their price objective on PayPal from $77.00 to $80.00 and gave the stock an overweight rating in a research report on Tuesday, August 20th. Finally, Sanford C. Bernstein upgraded PayPal from a market perform rating to an outperform rating and upped their target price for the company from $71.00 to $78.00 in a research report on Wednesday, July 31st. Eighteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $75.56.

PayPal Price Performance

PYPL stock opened at $68.85 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. PayPal has a 52-week low of $50.25 and a 52-week high of $74.40. The company has a market capitalization of $70.39 billion, a P/E ratio of 17.34, a PEG ratio of 0.98 and a beta of 1.43. The company has a fifty day moving average price of $64.93 and a 200-day moving average price of $63.74.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same period last year, the company earned $0.83 EPS. PayPal’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities analysts expect that PayPal will post 4.42 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PYPL. Fiduciary Alliance LLC lifted its stake in PayPal by 604.7% in the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after purchasing an additional 45,544 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of PayPal by 44.6% in the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after buying an additional 381 shares during the period. Blue Trust Inc. lifted its position in shares of PayPal by 21.2% during the 2nd quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock valued at $195,000 after buying an additional 588 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of PayPal by 18.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock worth $15,686,000 after acquiring an additional 36,994 shares during the period. Finally, Brown Shipley& Co Ltd grew its stake in shares of PayPal by 6.0% during the 4th quarter. Brown Shipley& Co Ltd now owns 51,372 shares of the credit services provider’s stock worth $3,155,000 after acquiring an additional 2,919 shares during the period. 68.32% of the stock is owned by institutional investors.

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.