Prospera Financial Services Inc grew its position in Paypal Holdings Inc (NASDAQ:PYPL) by 18.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,816 shares of the credit services provider’s stock after acquiring an additional 1,062 shares during the quarter. Prospera Financial Services Inc’s holdings in Paypal were worth $726,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Truehand Inc acquired a new position in shares of Paypal in the 4th quarter valued at about $25,000. Bruderman Asset Management LLC acquired a new position in Paypal during the 4th quarter worth approximately $27,000. CX Institutional lifted its position in Paypal by 605.7% during the 1st quarter. CX Institutional now owns 374 shares of the credit services provider’s stock worth $39,000 after acquiring an additional 321 shares in the last quarter. Karp Capital Management Corp acquired a new position in Paypal during the 4th quarter worth approximately $37,000. Finally, Virtus ETF Advisers LLC lifted its position in Paypal by 33.7% during the 4th quarter. Virtus ETF Advisers LLC now owns 448 shares of the credit services provider’s stock worth $38,000 after acquiring an additional 113 shares in the last quarter. 80.92% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Paypal from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a report on Tuesday, April 2nd. Morgan Stanley boosted their price target on Paypal from $103.00 to $113.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Nomura upped their price objective on Paypal from $110.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Canaccord Genuity upped their price objective on Paypal from $88.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Finally, SunTrust Banks upped their price objective on Paypal to $115.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $108.66.
PYPL stock traded up $0.45 during midday trading on Friday, reaching $116.17. 4,074,395 shares of the company’s stock traded hands, compared to its average volume of 6,899,875. Paypal Holdings Inc has a 1-year low of $74.66 and a 1-year high of $117.45. The stock has a market capitalization of $134.53 billion, a price-to-earnings ratio of 64.90, a P/E/G ratio of 2.86 and a beta of 1.02.
Paypal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.11. The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.13 billion. Paypal had a return on equity of 15.50% and a net margin of 13.92%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the company earned $0.57 EPS. As a group, equities research analysts forecast that Paypal Holdings Inc will post 2.24 earnings per share for the current year.
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PayPal Holdings, Inc operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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