PayPal (NASDAQ:PYPL) Shares Up 0.6% - Here's Why

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) shares traded up 0.6% during mid-day trading on Wednesday . The stock traded as high as $85.60 and last traded at $84.62. 1,463,473 shares changed hands during trading, a decline of 89% from the average session volume of 13,400,553 shares. The stock had previously closed at $84.09.

Analyst Ratings Changes

A number of research analysts have recently commented on PYPL shares. Canaccord Genuity Group increased their price objective on PayPal from $80.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Needham & Company LLC reissued a "hold" rating on shares of PayPal in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $78.00 price objective on shares of PayPal in a report on Wednesday, September 18th. Sanford C. Bernstein downgraded shares of PayPal from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $75.00 to $80.00 in a report on Thursday, October 10th. Finally, Phillip Securities restated an "accumulate" rating and set a $90.00 price target (up from $80.00) on shares of PayPal in a report on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PayPal currently has a consensus rating of "Moderate Buy" and an average price target of $83.45.

PayPal Trading Up 0.4 %

The company has a market cap of $84.62 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.53 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The company's fifty day moving average price is $79.47 and its two-hundred day moving average price is $69.29.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. The company had revenue of $7.85 billion for the quarter, compared to analysts' expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. Research analysts expect that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

Institutional Trading of PayPal

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hohimer Wealth Management LLC increased its stake in shares of PayPal by 1.0% in the 3rd quarter. Hohimer Wealth Management LLC now owns 63,498 shares of the credit services provider's stock valued at $4,955,000 after buying an additional 632 shares during the period. Soltis Investment Advisors LLC bought a new position in shares of PayPal in the 3rd quarter valued at about $201,000. Rehmann Capital Advisory Group grew its position in shares of PayPal by 34.1% during the 3rd quarter. Rehmann Capital Advisory Group now owns 20,870 shares of the credit services provider's stock worth $1,639,000 after buying an additional 5,311 shares during the period. Virtue Capital Management LLC bought a new stake in shares of PayPal during the third quarter worth approximately $202,000. Finally, Fortem Financial Group LLC lifted its stake in shares of PayPal by 28.7% in the 3rd quarter. Fortem Financial Group LLC now owns 26,011 shares of the credit services provider's stock valued at $2,030,000 after purchasing an additional 5,805 shares during the period. Institutional investors and hedge funds own 68.32% of the company's stock.

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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