Caprock Group LLC increases stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Caprock Group LLC grew its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 37.2% during the second quarter, HoldingsChannel reports. The firm owned 29,017 shares of the credit services provider’s stock after acquiring an additional 7,868 shares during the quarter. Caprock Group LLC’s holdings in PayPal were worth $1,684,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have recently modified their holdings of PYPL. Pittenger & Anderson Inc. lifted its position in PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank bought a new stake in shares of PayPal in the 1st quarter valued at about $27,000. Register Financial Advisors LLC purchased a new stake in shares of PayPal in the first quarter valued at $30,000. CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares during the last quarter. Finally, Private Wealth Management Group LLC acquired a new position in PayPal in the 4th quarter valued at $29,000. 68.32% of the shares are currently held by hedge funds and other institutional investors.

PayPal Stock by 0.7%

Shares of PYPL stock opened at $69.35 on Tuesday. The company has a 50-day moving average of $64.73 and a 200-day moving average of $63.67. The firm has a market cap of $70.90 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 0.98 and a beta of 1.43. PayPal Holdings, Inc. it has a 12-month low of $50.25 and a 12-month high of $74.40. The company has a quick ratio of 1.24, a current ratio of 1.24, and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company’s revenue increased by 8.2% year-on-year. In the same period last year, the company earned $0.83 per share. On average, research analysts estimate that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Analysts set new price targets

PYPL has been the subject of several analyst reports. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and upped their target price for the company from $68.00 to $72.00 in a research report on Friday, 9 August. Jefferies Financial Group cut their price target on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. BMO Capital Markets raised their target price on PayPal from $65.00 to $72.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price objective on shares of PayPal in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Eighteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Moderate Buy” and an average price target of $75.56, according to MarketBeat.com.

Read our latest research report on PYPL

PayPal profile

(Free report)

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers around the world. It operates a two-way network at scale connecting merchants and consumers, enabling its customers to connect, transact and send and receive payments online and in person, as well as transfer and withdraw funds using various funding sources such as such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products, including its installment products, credit and debit cards and cryptocurrencies, and other stored value products, including gift cards and eligible rewards.

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