Phillip Securities Reaffirms “Accumulate” Rating for PayPal (NASDAQ:PYPL)

Phillip Securities restated their accumulate rating on shares of PayPal (NASDAQ:PYPL) in a research note published on Friday, Benzinga reports. The brokerage currently has a $90.00 price target on the credit services provider’s stock, up from their previous price target of $80.00.

PYPL has been the topic of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. TD Cowen raised their target price on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Barclays raised their target price on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Royal Bank of Canada raised their target price on PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.45.

PayPal Stock Up 1.1 %

Shares of NASDAQ PYPL opened at $78.13 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $78.33 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 1.38 and a beta of 1.43. PayPal has a 12-month low of $53.55 and a 12-month high of $83.70. The stock’s fifty day simple moving average is $76.63 and its two-hundred day simple moving average is $67.83.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. As a group, analysts expect that PayPal will post 4.56 EPS for the current fiscal year.

Institutional Trading of PayPal

A number of large investors have recently modified their holdings of the stock. Pittenger & Anderson Inc. raised its holdings in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares during the last quarter. Financial Management Professionals Inc. raised its holdings in shares of PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after buying an additional 243 shares during the last quarter. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares during the last quarter. Family Firm Inc. purchased a new stake in shares of PayPal in the second quarter valued at about $29,000. Finally, SYSTM Wealth Solutions LLC raised its holdings in PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares in the last quarter. Hedge funds and other 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.