Wedmont Private Capital Acquires 498 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Wedmont Private Capital boosted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,972 shares of the credit services provider’s stock after acquiring an additional 498 shares during the quarter. Wedmont Private Capital’s holdings in PayPal were worth $498,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. World Investment Advisors LLC bought a new position in shares of PayPal during the 3rd quarter valued at about $387,435,000. United Advisor Group LLC purchased a new stake in PayPal during the 3rd quarter valued at about $810,000. FCG Investment Co purchased a new stake in PayPal during the 3rd quarter valued at about $1,079,000. Equity Investment Corp boosted its holdings in PayPal by 3.5% during the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after acquiring an additional 67,497 shares during the period. Finally, Weil Company Inc. boosted its holdings in PayPal by 68.9% during the 3rd quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after acquiring an additional 17,003 shares during the period. 68.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PYPL. The Goldman Sachs Group increased their target price on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Canaccord Genuity Group increased their price objective on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup increased their price objective on PayPal from $94.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Wednesday, October 30th. Finally, Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research report on Friday, December 13th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.16.

PayPal Stock Up 2.8 %

PYPL stock opened at $89.64 on Thursday. The stock has a market capitalization of $89.87 billion, a P/E ratio of 21.39, a P/E/G ratio of 1.66 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. PayPal Holdings, Inc. has a 1-year low of $55.77 and a 1-year high of $93.66. The business has a fifty day moving average price of $86.91 and a 200-day moving average price of $76.31.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 earnings per share. Equities analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

PayPal Company 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.