Lord Abbett & CO. LLC Takes $53.59 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Lord Abbett & CO. LLC acquired a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 686,736 shares of the credit services provider’s stock, valued at approximately $53,586,000. Lord Abbett & CO. LLC owned approximately 0.07% of PayPal at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PYPL. Gordian Capital Singapore Pte Ltd bought a new stake in PayPal during the third quarter worth approximately $26,000. Family Firm Inc. bought a new stake in PayPal in the second quarter worth about $29,000. SYSTM Wealth Solutions LLC lifted its holdings in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 167 shares during the last quarter. Tortoise Investment Management LLC boosted its position in shares of PayPal by 930.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 465 shares in the last quarter. Finally, Planning Capital Management Corp raised its holdings in shares of PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 268 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PYPL shares. Keefe, Bruyette & Woods raised their target price on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Phillip Securities restated an “accumulate” rating and issued a $90.00 target price (up from $80.00) on shares of PayPal in a report on Friday, November 1st. Morgan Stanley upped their target price on PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Macquarie boosted their price objective on PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Mizuho lifted 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. Fifteen 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, PayPal presently has an average rating of “Moderate Buy” and a consensus target price of $86.74.

PayPal Price Performance

Shares of PayPal stock opened at $91.02 on Friday. The firm has a market cap of $91.25 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The firm’s 50-day simple moving average is $83.87 and its 200-day simple moving average is $72.30. PayPal Holdings, Inc. has a twelve month low of $55.77 and a twelve month high of $93.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion for 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 quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.97 EPS. As a group, research analysts expect that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

PayPal 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.