Phillip Securities Reaffirms “Accumulate” Rating for PayPal (NASDAQ:PYPL)

Phillip Securities reissued their accumulate rating on shares of PayPal (NASDAQ:PYPL) in a report published on Friday morning, Benzinga reports. Phillip Securities currently has a $90.00 target price on the credit services provider’s stock, up from their prior target price of $80.00.

Several other analysts have also recently weighed in on PYPL. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Monness Crespi & Hardt raised their price objective on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Oppenheimer started coverage on shares of PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Finally, William Blair upgraded shares of PayPal to a “hold” rating in a research report on Tuesday, July 30th. Fifteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.45.

PayPal Stock Up 1.1 %

Shares of NASDAQ:PYPL opened at $78.13 on Friday. The firm has a fifty day moving average price of $76.63 and a two-hundred day moving average price of $67.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. PayPal has a one year low of $53.55 and a one year high of $83.70. The company has a market cap of $78.33 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.38 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. Analysts anticipate that PayPal will post 4.56 EPS for the current fiscal year.

Institutional Trading of PayPal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lynx Investment Advisory boosted its position in shares of PayPal by 156.3% in the third quarter. Lynx Investment Advisory now owns 3,140 shares of the credit services provider’s stock worth $245,000 after purchasing an additional 1,915 shares during the period. Versor Investments LP boosted its position in shares of PayPal by 115.9% in the third quarter. Versor Investments LP now owns 26,223 shares of the credit services provider’s stock worth $2,046,000 after purchasing an additional 14,079 shares during the period. tru Independence LLC bought a new position in shares of PayPal in the third quarter worth approximately $255,000. Jaffetilchin Investment Partners LLC bought a new position in shares of PayPal in the third quarter worth approximately $653,000. Finally, Weil Company Inc. boosted its position in shares of PayPal by 68.9% in the third quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock worth $3,253,000 after purchasing an additional 17,003 shares during the period. 68.32% of the stock is owned by hedge funds and other 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.