Zacks Investment Management Purchases New Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Zacks Investment Management acquired a new position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 118,510 shares of the credit services provider's stock, valued at approximately $9,247,000.

A number of other institutional investors have also recently bought and sold shares of the business. Czech National Bank raised its position in shares of PayPal by 5.7% in the 2nd quarter. Czech National Bank now owns 199,335 shares of the credit services provider's stock valued at $11,567,000 after buying an additional 10,785 shares in the last quarter. RFG Advisory LLC boosted its holdings in shares of PayPal by 26.3% in the 2nd quarter. RFG Advisory LLC now owns 6,925 shares of the credit services provider's stock valued at $402,000 after purchasing an additional 1,440 shares in the last quarter. Aspire Private Capital LLC increased its stake in shares of PayPal by 19.6% in the 2nd quarter. Aspire Private Capital LLC now owns 2,084 shares of the credit services provider's stock valued at $121,000 after purchasing an additional 342 shares during the last quarter. Matrix Asset Advisors Inc. NY raised its holdings in shares of PayPal by 0.8% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 227,562 shares of the credit services provider's stock worth $13,205,000 after buying an additional 1,715 shares in the last quarter. Finally, Cooper Financial Group lifted its position in shares of PayPal by 3.1% during the 2nd quarter. Cooper Financial Group now owns 21,177 shares of the credit services provider's stock worth $1,229,000 after buying an additional 639 shares during the last quarter. Institutional investors own 68.32% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Oppenheimer initiated coverage on PayPal in a research report on Tuesday, October 1st. They issued a "market perform" rating on the stock. Robert W. Baird lifted their price target on shares of PayPal from $80.00 to $91.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Mizuho increased their price objective on shares of PayPal from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Stephens boosted their target price on shares of PayPal from $75.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $78.00 price target on shares of PayPal in a research note on Wednesday, September 18th. Sixteen analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $84.21.

PayPal Trading Up 0.9 %

PYPL stock traded up $0.84 during mid-day trading on Friday, reaching $89.88. The company's stock had a trading volume of 6,948,408 shares, compared to its average volume of 8,485,302. PayPal Holdings, Inc. has a 12 month low of $55.77 and a 12 month high of $90.27. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The business's 50 day moving average price is $82.67 and its 200 day moving average price is $71.38. The company has a market cap of $90.11 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 1.63 and a beta of 1.44.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating 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%. PayPal's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.97 EPS. On average, equities research analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current 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.