PayPal (NASDAQ:PYPL) Trading 0.9% Higher – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL) was up 0.9% on Friday . The company traded as high as $82.76 and last traded at $82.11. Approximately 1,672,512 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 13,497,413 shares. The stock had previously closed at $81.39.

Analyst Ratings Changes

A number of equities analysts have weighed in on PYPL shares. Jefferies Financial Group decreased their target price on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $78.00 target price on shares of PayPal in a research note on Wednesday, September 18th. Mizuho upped their target price on PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $84.00 price objective on shares of PayPal in a research report on Wednesday, July 31st. Finally, TD Cowen increased their price objective on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Seventeen investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and an average target price of $78.03.

PayPal Trading Up 0.4 %

The company has a market cap of $85.46 billion, a PE ratio of 20.58, a PEG ratio of 1.50 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. The stock has a 50 day moving average price of $75.65 and a 200 day moving average price of $67.16.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA boosted its holdings in PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after acquiring an additional 3,184,160 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after acquiring an additional 1,866,925 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in PayPal by 9,864.9% in the third quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock worth $87,336,000 after acquiring an additional 1,108,030 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in PayPal by 31.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock worth $194,262,000 after acquiring an additional 687,940 shares in the last quarter. Finally, Swedbank AB bought a new stake in PayPal in the first quarter worth $42,297,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

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.