PayPal (NASDAQ:PYPL) Shares Up 0.4% - Here's What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) rose 0.4% on Friday . The stock traded as high as $61.65 and last traded at $60.79. Approximately 3,171,010 shares traded hands during trading, a decline of 72% from the average daily volume of 11,432,543 shares. The stock had previously closed at $60.56.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PYPL. Monness Crespi & Hardt reduced their target price on PayPal from $120.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday. JPMorgan Chase & Co. reissued an "overweight" rating on shares of PayPal in a research note on Tuesday, February 4th. Robert W. Baird lowered their target price on PayPal from $100.00 to $95.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada reissued an "outperform" rating and issued a $100.00 price target on shares of PayPal in a research report on Thursday, December 12th. Finally, StockNews.com raised shares of PayPal from a "hold" rating to a "buy" rating in a research report on Sunday, April 6th. Fifteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PayPal has a consensus rating of "Moderate Buy" and an average target price of $88.32.

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PayPal Price Performance

The firm has a market cap of $61.86 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The stock's 50-day moving average price is $70.19 and its 200 day moving average price is $79.87. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 EPS. Equities research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Insider Transactions at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On PayPal

Several large investors have recently modified their holdings of the stock. Mpwm Advisory Solutions LLC bought a new stake in PayPal in the fourth quarter valued at $25,000. Hurley Capital LLC bought a new stake in shares of PayPal in the 4th quarter worth about $27,000. 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 worth $26,000 after purchasing an additional 125 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its holdings in PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock valued at $30,000 after purchasing an additional 272 shares during the last quarter. Finally, Bernard Wealth Management Corp. acquired a new position in PayPal in the fourth quarter valued at about $34,000. 68.32% of the stock is currently owned by 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.

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