PayPal (NASDAQ:PYPL) Shares Up 0.7% - Here's What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) rose 0.7% during mid-day trading on Tuesday . The stock traded as high as $71.66 and last traded at $71.48. Approximately 1,364,206 shares were traded during trading, a decline of 87% from the average daily volume of 10,911,865 shares. The stock had previously closed at $70.97.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of PayPal from $92.00 to $104.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Robert W. Baird decreased their target price on PayPal from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Susquehanna lifted their target price on PayPal from $94.00 to $101.00 and gave the company a "positive" rating in a research report on Monday, January 6th. Needham & Company LLC restated a "hold" rating on shares of PayPal in a research report on Wednesday, February 26th. Finally, Morgan Stanley lifted their price objective on PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $90.03.

PayPal Price Performance

The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm's 50-day moving average price is $77.93 and its 200-day moving average price is $80.91. The stock has a market capitalization of $69.87 billion, a PE ratio of 17.61, a PEG ratio of 1.27 and a beta of 1.52.

Remove Ads

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

Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, the director now owns 29,734 shares of the company's stock, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by insiders.

Institutional Trading of PayPal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PYPL. Relyea Zuckerberg Hanson LLC grew its stake in shares of PayPal by 113.8% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider's stock valued at $638,000 after buying an additional 3,976 shares during the last quarter. World Investment Advisors LLC purchased a new position in PayPal during the 3rd quarter valued at $387,435,000. Nikko Asset Management Americas Inc. grew its position in PayPal by 2.7% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider's stock valued at $59,489,000 after acquiring an additional 18,172 shares during the last quarter. Fortem Financial Group LLC increased its stake in PayPal by 28.0% in the fourth quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider's stock worth $2,842,000 after purchasing an additional 7,291 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of PayPal by 120.3% during the third quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider's stock worth $125,461,000 after purchasing an additional 849,311 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.

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