PayPal (NASDAQ:PYPL) Now Covered by Oppenheimer

Equities research analysts at Oppenheimer initiated coverage on shares of PayPal (NASDAQ:PYPL) in a report released on Tuesday, Marketbeat.com reports. The firm set a “market perform” rating on the credit services provider’s stock.

A number of other equities analysts have also recently commented on the company. William Blair raised PayPal to a “hold” rating in a report on Tuesday, July 30th. Argus raised PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird raised their price target on PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Macquarie raised their price target on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, TD Cowen raised their price target on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Seventeen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.38.

PayPal Price Performance

Shares of PayPal stock opened at $77.44 on Tuesday. PayPal has a one year low of $50.25 and a one year high of $80.63. The stock’s fifty day moving average is $69.87 and its 200 day moving average is $65.40. The stock has a market cap of $79.17 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.11 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.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PYPL. Primecap Management Co. CA grew its stake in shares of PayPal by 180.7% during the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after buying an additional 3,184,160 shares during the last quarter. Clearbridge Investments LLC grew its stake 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 valued at $493,907,000 after buying an additional 1,866,925 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of PayPal by 125.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after buying an additional 958,130 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake 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 valued at $194,262,000 after buying an additional 687,940 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of PayPal during the first quarter valued at approximately $42,297,000. 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.