Marcum Wealth LLC Makes New Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

Marcum Wealth LLC bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,639 shares of the credit services provider’s stock, valued at approximately $284,000.

Several other large investors have also modified their holdings of the stock. Brown Financial Advisors acquired a new stake in shares of PayPal in the 2nd quarter valued at approximately $1,454,000. Cape Cod Five Cents Savings Bank acquired a new position in shares of PayPal during the 2nd quarter worth $3,014,000. Distillate Capital Partners LLC increased its holdings in shares of PayPal by 156,934.7% in the 2nd quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock valued at $19,957,000 after purchasing an additional 343,687 shares in the last quarter. Fiduciary Alliance LLC lifted its stake in shares of PayPal by 604.7% in the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after purchasing an additional 45,544 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in PayPal by 44.6% during the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after buying an additional 381 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PYPL shares. BMO Capital Markets lifted their price objective on PayPal from $72.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Oppenheimer began coverage on shares of PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Wells Fargo & Company lifted their target price on shares of PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Mizuho reiterated an “outperform” rating and issued a $90.00 price target on shares of PayPal in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $69.00 price target on shares of PayPal in a research report on Thursday, September 19th. Seventeen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and a consensus price target of $76.47.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $78.98 on Friday. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $82.00. 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 company has a market cap of $80.74 billion, a P/E ratio of 19.12, a P/E/G ratio of 1.49 and a beta of 1.44. The business’s 50 day moving average is $71.78 and its two-hundred day moving average is $65.93.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period in the previous year, the company posted $0.83 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts expect that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

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.