Clarity Financial LLC Takes $209,000 Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Clarity Financial LLC acquired a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,678 shares of the credit services provider’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PYPL. Family Firm Inc. acquired a new stake in shares of PayPal in the 2nd quarter worth $29,000. SYSTM Wealth Solutions LLC raised its stake in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares during the last quarter. Tortoise Investment Management LLC raised its stake in PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 465 shares during the last quarter. CarsonAllaria Wealth Management Ltd. lifted its position in PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 185 shares during the period. Finally, LRI Investments LLC purchased a new stake in PayPal during the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Trading Up 1.4 %

NASDAQ:PYPL opened at $79.25 on Wednesday. The firm has a market capitalization of $79.45 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.38 and a beta of 1.43. PayPal Holdings, Inc. has a 1-year low of $53.55 and a 1-year high of $83.70. The business’s 50-day moving average price is $76.78 and its two-hundred day moving average price is $67.95. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49.

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

Analyst Ratings Changes

A number of brokerages recently commented on PYPL. Canaccord Genuity Group upped their target price on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada boosted their target price on shares of PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, TD Cowen lifted their price objective on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Fifteen 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.45.

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.