PayPal (NASDAQ:PYPL) Now Covered by Oppenheimer

Stock analysts at Oppenheimer began coverage on shares of PayPal (NASDAQ:PYPL) in a research note issued on Tuesday, MarketBeat reports. The firm set a “market perform” rating on the credit services provider’s stock.

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 target price on shares of PayPal in a research report on Wednesday, September 18th. Wells Fargo & Company increased their target price on PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com cut PayPal from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $69.00 target price on shares of PayPal in a research report on Thursday, September 19th. Finally, UBS Group increased their target price on PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Seventeen 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.38.

PayPal Stock Down 0.0 %

Shares of NASDAQ:PYPL opened at $77.44 on Tuesday. PayPal has a 52-week low of $50.25 and a 52-week high of $80.63. The stock has a market cap of $79.17 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The business’s 50 day moving average is $69.87 and its 200 day moving average is $65.40. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm earned $0.83 earnings per share. PayPal’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts predict that PayPal will post 4.42 EPS for the current year.

Institutional Investors Weigh In On PayPal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its position in PayPal by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after purchasing an additional 276,287 shares during the period. Clearbridge Investments LLC grew its position in PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares during the period. Primecap Management Co. CA grew 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 period. First Trust Advisors LP grew its position in PayPal by 1.7% during the 4th quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock worth $225,283,000 after purchasing an additional 61,384 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in PayPal by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after purchasing an additional 409,322 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

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.