PayPal (NASDAQ:PYPL) Trading 1.1% Higher

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price shot up 1.1% during trading on Tuesday . The stock traded as high as $72.14 and last traded at $71.82. 1,562,314 shares traded hands during trading, a decline of 89% from the average session volume of 13,990,223 shares. The stock had previously closed at $71.07.

Wall Street Analyst Weigh In

Several research firms have commented on PYPL. Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. William Blair upgraded PayPal to a “hold” rating in a research note on Tuesday, July 30th. Mizuho reiterated an “outperform” rating and set a $90.00 price objective on shares of PayPal in a research note on Tuesday, August 20th. Robert W. Baird boosted their price objective on PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Macquarie boosted their price objective on PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Seventeen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.58.

PayPal Stock Up 1.9 %

The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50 day simple moving average of $66.33 and a 200 day simple moving average of $64.17. The company has a market capitalization of $76.49 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.00 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $7.82 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Institutional Trading of PayPal

Several hedge funds have recently modified their holdings of the stock. Legal & General Group Plc raised its stake in shares of PayPal by 3.3% in the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after acquiring an additional 276,287 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after acquiring an additional 1,866,925 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of 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 valued at $287,043,000 after acquiring an additional 3,184,160 shares in the last quarter. First Trust Advisors LP raised its stake in shares of PayPal by 1.7% in the fourth quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock valued at $225,283,000 after acquiring an additional 61,384 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of PayPal by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock valued at $183,789,000 after acquiring an additional 409,322 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.