Cary Street Partners Asset Management LLC grew its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 4.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,571 shares of the credit services provider’s stock after acquiring an additional 418 shares during the period. Cary Street Partners Asset Management LLC’s holdings in PayPal were worth $639,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Mach 1 Financial Group LLC bought a new stake in PayPal in the 1st quarter valued at about $22,024,000. VitalStone Financial LLC raised its position in PayPal by 4,514.3% in the first quarter. VitalStone Financial LLC now owns 323 shares of the credit services provider’s stock worth $75,000 after acquiring an additional 316 shares during the period. Beacon Capital Management LLC increased its position in PayPal by 108.7% in the second quarter. Beacon Capital Management LLC now owns 384 shares of the credit services provider’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in PayPal during the fourth quarter worth about $29,000. Finally, ZRC Wealth Management LLC purchased a new stake in shares of PayPal during the first quarter worth $32,000. Institutional investors and hedge funds own 68.42% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have issued reports on PYPL. TD Cowen began coverage on PayPal in a research report on Friday, October 6th. They set a “market perform” rating and a $66.00 target price on the stock. DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Friday, November 3rd. Jefferies Financial Group reduced their price target on shares of PayPal from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Monday, October 9th. Barclays reduced their price target on shares of PayPal from $92.00 to $88.00 and set an “overweight” rating for the company in a research report on Friday, August 4th. Finally, Monness Crespi & Hardt initiated coverage on PayPal in a research report on Monday, October 2nd. They set a “buy” rating and a $100.00 price target for the company. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and a consensus price target of $78.77.
PayPal Price Performance
Shares of PYPL traded down $0.28 during mid-day trading on Friday, hitting $56.54. 12,145,870 shares of the stock were exchanged, compared to its average volume of 16,884,212. The company has a market cap of $60.96 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 0.91 and a beta of 1.38. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $88.63. The firm has a 50-day moving average of $56.94 and a two-hundred day moving average of $62.72. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30.
PayPal (NASDAQ:PYPL – Get Free Report) last released its earnings results on Wednesday, November 1st. The credit services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.08. The firm had revenue of $7.40 billion during the quarter, compared to analyst estimates of $7.39 billion. PayPal had a net margin of 12.93% and a return on equity of 20.78%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business earned $0.87 EPS. On average, equities analysts predict that PayPal Holdings, Inc. will post 3.84 earnings per share for the current year.
PayPal Company Profile
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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