PayPal (NASDAQ:PYPL) Trading Up 1.3% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price rose 1.3% during mid-day trading on Friday . The stock traded as high as $77.50 and last traded at $77.57. Approximately 2,415,368 shares were traded during trading, a decline of 79% from the average daily volume of 11,238,674 shares. The stock had previously closed at $76.59.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. BMO Capital Markets raised their price objective on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of PayPal in a research note on Thursday, December 12th. Barclays upped their price target on shares of PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Bank of America upgraded shares of PayPal from a “neutral” rating to a “buy” rating and raised their price objective for the company from $86.00 to $103.00 in a research report on Monday, December 9th. Finally, Wolfe Research raised shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price for the company in a report on Friday, December 13th. Thirteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $90.52.

PayPal Trading Up 2.1 %

The company has a current ratio of 1.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The stock has a market cap of $77.32 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.29 and a beta of 1.44. The company has a 50-day moving average price of $86.66 and a two-hundred day moving average price of $80.01.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.48 EPS. On average, research analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Hedge Funds Weigh In On PayPal

Large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of PayPal during the fourth quarter worth $1,086,508,000. Mizuho Securities USA LLC lifted its holdings in PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after buying an additional 10,419,351 shares in the last quarter. Capital Research Global Investors grew its stake in PayPal by 108.2% in the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock worth $1,529,823,000 after acquiring an additional 9,313,783 shares in the last quarter. FMR LLC increased its position in shares of PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in shares of PayPal by 284.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock valued at $666,100,000 after acquiring an additional 5,772,198 shares in the last quarter. 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.