PayPal (NASDAQ:PYPL) Now Covered by Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of PayPal (NASDAQ:PYPL) in a report released on Tuesday, MarketBeat.com reports. The brokerage issued a market perform rating on the credit services provider’s stock.

Several other research firms have also issued reports on PYPL. TD Cowen increased their target price on PayPal from $68.00 to $70.00 and gave the stock a hold rating in a report on Wednesday, July 31st. Royal Bank of Canada reissued an outperform rating and set a $84.00 target price on shares of PayPal in a report on Wednesday, July 31st. Canaccord Genuity Group reissued a buy rating and set a $80.00 target price on shares of PayPal in a report on Wednesday, July 31st. The Goldman Sachs Group reissued a neutral rating and set a $69.00 target price on shares of PayPal in a report on Thursday, September 19th. Finally, Daiwa America raised PayPal from a moderate buy rating to a strong-buy rating in a report on Friday, August 9th. Seventeen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PayPal currently has an average rating of Moderate Buy and an average price target of $76.41.

PayPal Stock Up 2.7 %

PYPL opened at $79.36 on Tuesday. PayPal has a 1-year low of $50.25 and a 1-year high of $80.63. The stock’s fifty day simple moving average is $70.69 and its 200 day simple moving average is $65.59. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock has a market cap of $81.13 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 EPS. As a group, research analysts expect that PayPal will post 4.42 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

A number of hedge funds have recently added to or reduced their stakes in the business. J. W. Coons Advisors LLC increased its holdings in shares of PayPal by 8.0% during the fourth quarter. J. W. Coons Advisors LLC now owns 5,423 shares of the credit services provider’s stock valued at $333,000 after acquiring an additional 400 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of PayPal by 125.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after acquiring an additional 958,130 shares in the last quarter. Blueshift Asset Management LLC increased its holdings in shares of PayPal by 20.2% during the fourth quarter. Blueshift Asset Management LLC now owns 5,247 shares of the credit services provider’s stock valued at $322,000 after acquiring an additional 882 shares in the last quarter. Edge Capital Group LLC increased its holdings in shares of PayPal by 44.8% during the fourth quarter. Edge Capital Group LLC now owns 7,025 shares of the credit services provider’s stock valued at $431,000 after acquiring an additional 2,174 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of PayPal by 1.7% during the fourth quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock valued at $225,283,000 after acquiring an additional 61,384 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

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.