Marcum Wealth LLC Purchases 438 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Marcum Wealth LLC increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,077 shares of the credit services provider’s stock after purchasing an additional 438 shares during the period. Marcum Wealth LLC’s holdings in PayPal were worth $348,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PayPal during the third quarter valued at approximately $26,000. Sugarloaf Wealth Management LLC lifted its holdings in PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares in the last quarter. Planning Capital Management Corp boosted its holdings in shares of PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares during the period. Financial Management Professionals Inc. lifted its holdings in shares of PayPal by 125.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after buying an additional 243 shares during the period. Finally, Modus Advisors LLC purchased a new stake in PayPal in the fourth quarter worth about $37,000. 68.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on PYPL shares. Barclays upped their target price on PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Phillip Securities reaffirmed an “accumulate” rating and issued a $90.00 price objective (up from $80.00) on shares of PayPal in a research report on Friday, November 1st. Mizuho boosted their target price on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup raised their price target on shares of PayPal from $94.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets boosted their price objective 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. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.16.

PayPal Stock Up 3.8 %

PayPal stock opened at $87.18 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market capitalization of $87.40 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The business has a 50 day simple moving average of $86.91 and a 200-day simple moving average of $76.31. PayPal Holdings, Inc. has a 12 month low of $55.77 and a 12 month high of $93.66.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. The company 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 firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 EPS. On average, analysts anticipate that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

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.