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 released on Thursday morning.

A number of other equities research analysts have also recently issued reports on PYPL. Argus raised shares of PayPal from a hold rating to a buy rating in a research report on Wednesday, July 31st. Citigroup increased their target price on shares of PayPal from $79.00 to $81.00 and gave the stock a buy rating in a research report on Monday, June 10th. The Goldman Sachs Group reiterated a neutral rating and issued a $69.00 price target on shares of PayPal in a research report on Monday, June 24th. JPMorgan Chase & Co. raised their price objective on PayPal from $77.00 to $80.00 and gave the stock an overweight rating in a research note on Tuesday, August 20th. Finally, William Blair upgraded PayPal to a hold rating in a research report on Tuesday, July 30th. Seventeen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PayPal presently has a consensus rating of Moderate Buy and a consensus target price of $75.58.

PayPal Stock Performance

NASDAQ PYPL opened at $76.76 on Thursday. The stock has a market cap of $78.47 billion, a PE ratio of 19.34, a P/E/G ratio of 1.01 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50-day moving average of $67.01 and a 200-day moving average of $64.42. PayPal has a 52-week low of $50.25 and a 52-week high of $78.25.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share. On average, sell-side analysts anticipate that PayPal will post 4.42 EPS for the current year.

Institutional Trading of PayPal

Several institutional investors have recently modified their holdings of PYPL. Primecap Management Co. CA raised 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 worth $287,043,000 after purchasing an additional 3,184,160 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after acquiring an additional 1,866,925 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of PayPal by 125.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after acquiring an additional 958,130 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in PayPal by 31.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after acquiring an additional 687,940 shares during the last quarter. Finally, Swedbank AB acquired a new stake in PayPal during the 1st quarter valued at approximately $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.