PayPal (NASDAQ:PYPL) Earns Market Perform Rating from Analysts at Oppenheimer

Oppenheimer began coverage on shares of PayPal (NASDAQ:PYPL) in a report issued on Tuesday morning, MarketBeat.com reports. The firm issued a market perform rating on the credit services provider’s stock.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed an outperform rating and set a $84.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Sanford C. Bernstein upgraded PayPal from a market perform rating to an outperform rating and upped their target price for the stock from $71.00 to $78.00 in a report on Wednesday, July 31st. Susquehanna increased their price target on PayPal from $71.00 to $83.00 and gave the stock a positive rating in a research report on Wednesday, July 31st. Evercore ISI lifted their price objective on PayPal from $65.00 to $70.00 and gave the company an in-line rating in a report on Tuesday, June 25th. Finally, Mizuho restated an outperform rating and issued a $90.00 price target on shares of PayPal in a report on Tuesday, August 20th. Seventeen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $76.41.

PayPal Price Performance

PYPL opened at $77.31 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $70.27 and a 200 day moving average of $65.48. PayPal has a 52-week low of $50.25 and a 52-week high of $80.63. The stock has a market cap of $79.04 billion, a P/E ratio of 19.47, a PEG ratio of 1.11 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same period in the previous year, the firm earned $0.83 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts anticipate that PayPal will post 4.42 EPS for the current year.

Institutional Investors Weigh In On PayPal

A number of large investors have recently made changes to their positions in PYPL. J. W. Coons Advisors LLC lifted its holdings in shares of PayPal by 8.0% in the 4th quarter. J. W. Coons Advisors LLC now owns 5,423 shares of the credit services provider’s stock valued at $333,000 after buying an additional 400 shares during the period. The Manufacturers Life Insurance Company increased its position 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 valued at $105,882,000 after buying an additional 958,130 shares in the last quarter. Blueshift Asset Management LLC raised its position in PayPal by 20.2% during the fourth quarter. Blueshift Asset Management LLC now owns 5,247 shares of the credit services provider’s stock worth $322,000 after acquiring an additional 882 shares during the period. Edge Capital Group LLC lifted its stake in PayPal by 44.8% in the 4th quarter. Edge Capital Group LLC now owns 7,025 shares of the credit services provider’s stock valued at $431,000 after buying an additional 2,174 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of PayPal by 1.7% in the fourth quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock valued at $225,283,000 after acquiring an additional 61,384 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.