Prescott Group Capital Management L.L.C. lifted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 83.3% in the second quarter, HoldingsChannel reports. The fund owned 44,000 shares of the credit services provider’s stock after purchasing an additional 20,000 shares during the quarter. Prescott Group Capital Management L.L.C.’s holdings in PayPal were worth $2,936,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Mach 1 Financial Group LLC acquired a new stake in PayPal during the first quarter valued at approximately $22,024,000. VitalStone Financial LLC raised its holdings in shares of PayPal by 4,514.3% during the first quarter. VitalStone Financial LLC now owns 323 shares of the credit services provider’s stock valued at $75,000 after acquiring an additional 316 shares during the period. Beacon Capital Management LLC raised its holdings in shares of PayPal by 108.7% during the second quarter. Beacon Capital Management LLC now owns 384 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 200 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in shares of PayPal during the fourth quarter valued at approximately $29,000. Finally, ZRC Wealth Management LLC acquired a new position in PayPal in the 1st quarter valued at approximately $32,000. 68.42% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have weighed in on PYPL. UBS Group reiterated a “neutral” rating and issued a $63.00 price objective on shares of PayPal in a research note on Friday, October 20th. Mizuho dropped their price objective on shares of PayPal from $92.00 to $72.00 and set a “buy” rating on the stock in a research note on Tuesday, November 14th. DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Friday, November 3rd. Canaccord Genuity Group dropped their price target on shares of PayPal from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, November 2nd. Finally, StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.77.
PayPal Price Performance
Shares of NASDAQ:PYPL traded up $0.44 during midday trading on Monday, reaching $56.98. 3,972,583 shares of the company’s stock were exchanged, compared to its average volume of 15,148,772. The firm has a market capitalization of $61.43 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 0.91 and a beta of 1.38. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30. The company’s 50 day simple moving average is $56.94 and its two-hundred day simple moving average is $62.59. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $88.63.
PayPal (NASDAQ:PYPL – Get Free Report) last announced its earnings results on Wednesday, November 1st. The credit services provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. The business had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $7.39 billion. PayPal had a net margin of 12.93% and a return on equity of 20.78%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the company posted $0.87 EPS. Equities research analysts expect that PayPal Holdings, Inc. will post 3.84 earnings per share for the current fiscal year.
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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