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

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

PYPL has been the subject of a number of other reports. Macquarie lifted their price target on PayPal from $85.00 to $90.00 and gave the company an outperform rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on PayPal from $77.00 to $80.00 and gave the company an overweight rating in a report on Tuesday, August 20th. Barclays boosted their price objective on PayPal from $85.00 to $92.00 and gave the stock an overweight rating in a report on Friday, September 27th. Sanford C. Bernstein raised PayPal from a market perform rating to an outperform rating and boosted their price objective for the stock from $71.00 to $78.00 in a report on Wednesday, July 31st. Finally, BMO Capital Markets boosted their price objective on PayPal from $65.00 to $72.00 and gave the stock a market perform rating in a 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 given a strong buy rating to the company. According to data from MarketBeat.com, PayPal currently has a consensus rating of Moderate Buy and a consensus target price of $76.41.

PayPal Trading Up 2.7 %

PYPL stock opened at $79.36 on Tuesday. PayPal has a fifty-two week low of $50.25 and a fifty-two week high of $80.63. The stock has a market capitalization of $81.13 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 1.11 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The business has a fifty day moving average price of $70.69 and a 200 day moving average price of $65.59.

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

Hedge Funds Weigh In On PayPal

A number of large investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its position in PayPal by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after acquiring an additional 276,287 shares during the last quarter. Clearbridge Investments LLC boosted its position in PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after acquiring an additional 1,866,925 shares during the last quarter. Primecap Management Co. CA boosted its position in PayPal by 180.7% during the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after acquiring an additional 3,184,160 shares during the last quarter. First Trust Advisors LP boosted its position in PayPal by 1.7% during the 4th quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock worth $225,283,000 after acquiring an additional 61,384 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of PayPal by 14.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock valued at $183,789,000 after buying an additional 409,322 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.