PayPal (NASDAQ:PYPL) Shares Up 1.3% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price traded up 1.3% during mid-day trading on Thursday . The stock traded as high as $90.93 and last traded at $89.89. 2,791,391 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 7,900,265 shares. The stock had previously closed at $88.76.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on PayPal from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Barclays upped their price objective on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Citigroup upped their price objective on PayPal from $94.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, Sanford C. Bernstein downgraded PayPal from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $75.00 to $80.00 in a research note on Thursday, October 10th. Fourteen equities 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.48.

PayPal Price Performance

The firm has a market capitalization of $88.80 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44. The business has a 50-day moving average of $88.16 and a 200 day moving average of $78.81. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results 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 business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. PayPal’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 EPS. As a group, research analysts anticipate that PayPal Holdings, Inc. will post 4.58 EPS for the current fiscal year.

Institutional Investors Weigh In On PayPal

Large investors have recently made changes to their positions in the business. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of PayPal during the 3rd quarter valued at $26,000. Rosenberg Matthew Hamilton increased its position in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC grew its stake in shares of PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 272 shares during the period. Planning Capital Management Corp grew its stake in shares of PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 268 shares during the period. Finally, Financial Management Professionals Inc. grew its stake in shares of PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 243 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.

About PayPal

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.