Planning Capital Management Corp Boosts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Planning Capital Management Corp grew its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 186.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 412 shares of the credit services provider’s stock after acquiring an additional 268 shares during the period. Planning Capital Management Corp’s holdings in PayPal were worth $32,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Zions Bancorporation N.A. grew its stake in shares of PayPal by 11.1% during the 3rd quarter. Zions Bancorporation N.A. now owns 46,117 shares of the credit services provider’s stock valued at $3,599,000 after acquiring an additional 4,614 shares during the period. KBC Group NV raised its holdings in shares of PayPal by 22.5% during the 3rd quarter. KBC Group NV now owns 656,643 shares of the credit services provider’s stock worth $51,238,000 after acquiring an additional 120,734 shares in the last quarter. Mizuho Securities Co. Ltd. raised its holdings in shares of PayPal by 181.9% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 9,020 shares of the credit services provider’s stock worth $704,000 after acquiring an additional 5,820 shares in the last quarter. ICICI Prudential Asset Management Co Ltd raised its holdings in shares of PayPal by 16.1% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 13,346 shares of the credit services provider’s stock worth $1,041,000 after acquiring an additional 1,855 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of PayPal by 23.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 70,449 shares of the credit services provider’s stock worth $5,497,000 after acquiring an additional 13,166 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

NASDAQ:PYPL opened at $85.79 on Friday. The stock has a 50 day moving average of $78.25 and a two-hundred day moving average of $68.76. PayPal Holdings, Inc. has a 12 month low of $55.28 and a 12 month high of $87.92. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm has a market cap of $86.01 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43.

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

Analysts Set New Price Targets

PYPL has been the topic of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of PayPal in a report on Wednesday, October 30th. TD Cowen increased their price target on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Sanford C. Bernstein downgraded PayPal from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $75.00 to $80.00 in a research report on Thursday, October 10th. Royal Bank of Canada raised their price objective on PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Stephens raised their price objective on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and an average price target of $83.45.

PayPal Profile

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.