Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 465,047 shares of the credit services provider’s stock after purchasing an additional 21,033 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PayPal were worth $36,288,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PYPL. LRI Investments LLC purchased a new stake in PayPal in the first quarter valued at $34,000. Burney Co. purchased a new stake in shares of PayPal in the first quarter valued at about $1,912,000. PGGM Investments purchased a new stake in shares of PayPal in the first quarter valued at about $1,240,000. Cetera Investment Advisers raised its holdings in shares of PayPal by 229.8% in the first quarter. Cetera Investment Advisers now owns 205,295 shares of the credit services provider’s stock valued at $13,753,000 after buying an additional 143,046 shares during the last quarter. Finally, Cetera Advisors LLC raised its holdings in shares of PayPal by 76.2% in the first quarter. Cetera Advisors LLC now owns 44,526 shares of the credit services provider’s stock valued at $2,983,000 after buying an additional 19,257 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. BMO Capital Markets upped their target price on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. UBS Group boosted their price target on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Monness Crespi & Hardt boosted their price target on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada boosted their price target on shares of PayPal from $84.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Stephens boosted their price target on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Price Performance

PayPal stock opened at $86.57 on Friday. PayPal Holdings, Inc. has a 52-week low of $55.77 and a 52-week high of $88.74. The firm has a fifty day moving average of $81.49 and a 200-day moving average of $70.29. The firm has a market capitalization of $86.79 billion, a P/E ratio of 20.66, a PEG ratio of 1.54 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $0.97 EPS. As a group, analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

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.