Oppenheimer Begins Coverage on PayPal (NASDAQ:PYPL)

Oppenheimer began coverage on shares of PayPal (NASDAQ:PYPL) in a research note issued to investors on Tuesday, MarketBeat 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. Canaccord Genuity Group reissued a buy rating and set a $80.00 price target on shares of PayPal in a report on Wednesday, July 31st. TD Cowen boosted 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. The Goldman Sachs Group restated a neutral rating and set a $69.00 target price on shares of PayPal in a research note on Thursday, September 19th. JPMorgan Chase & Co. upped their price target on shares of PayPal from $77.00 to $80.00 and gave the stock an overweight rating in a research report on Tuesday, August 20th. Finally, Argus upgraded shares of PayPal from a hold rating to a buy rating in a research report on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $76.41.

PayPal Price Performance

NASDAQ PYPL opened at $77.31 on Tuesday. 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 firm has a market capitalization of $79.04 billion, a P/E ratio of 19.47, a PEG ratio of 1.11 and a beta of 1.43. The company has a 50-day moving average price of $70.27 and a 200-day moving average price of $65.48. PayPal has a 52 week low of $50.25 and a 52 week high of $80.63.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. lifted its stake in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank purchased a new stake in PayPal during the 1st quarter valued at $27,000. Family Firm Inc. bought a new stake in PayPal in the second quarter worth $29,000. SYSTM Wealth Solutions LLC boosted its stake in PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares during the period. Finally, Register Financial Advisors LLC bought a new position in PayPal during the first quarter valued at $30,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Company 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.