PayPal (NASDAQ:PYPL) Shares Up 1.8% – Here’s Why

by · The Cerbat Gem

PayPal Holdings, Inc. (NASDAQ:PYPL – Get Free Report) shot up 1.8% during mid-day trading on Friday . The company traded as high as $80.52 and last traded at $80.43. 1,912,115 shares were traded during mid-day trading, a decline of 86% from the average session volume of 13,808,721 shares. The stock had previously closed at $78.98.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PYPL. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Monness Crespi & Hardt lifted their target price on PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Susquehanna lifted their target price on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a report on Wednesday, July 31st. Barclays raised their target price on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Oppenheimer started coverage on PayPal in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Seventeen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued 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 target price of $76.47.

Check Out Our Latest Analysis on PYPL

PayPal Stock Up 1.4 %

The firm has a 50-day moving average of $72.05 and a two-hundred day moving average of $66.02. The firm has a market cap of $81.84 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.49 and a beta of 1.44. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL – Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same period in the previous year, the business posted $0.83 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PayPal

Hedge funds have recently modified their holdings of the business. Pittenger & Anderson Inc. boosted its position in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 172 shares during the period. American National Bank bought a new stake in shares of PayPal in the first quarter valued at approximately $27,000. Register Financial Advisors LLC bought a new position in PayPal in the first quarter worth $30,000. CarsonAllaria Wealth Management Ltd. lifted its position in PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 185 shares during the period. Finally, Family Firm Inc. bought a new position in PayPal in the second quarter worth $29,000. 68.32% of the stock is owned by institutional investors.

PayPal Company Profile

(Get Free Report)

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.

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