Shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) traded up 0.8% during trading on Thursday . The company traded as high as $70.81 and last traded at $70.54. 1,629,331 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 10,906,444 shares. The stock had previously closed at $70.00.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. DZ Bank upgraded PayPal from a "hold" rating to a "buy" rating and set a $92.00 target price for the company in a research note on Friday, February 28th. Bank of America upgraded PayPal from a "neutral" rating to a "buy" rating and boosted their price target for the company from $86.00 to $103.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. restated an "overweight" rating on shares of PayPal in a research note on Tuesday, February 4th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a report on Wednesday, February 26th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $90.03.
Get Our Latest Research Report on PayPal
PayPal Stock Up 0.7 %
The company has a market cap of $69.43 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The business has a fifty day simple moving average of $78.19 and a two-hundred day simple moving average of $80.86. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.
PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.08. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. PayPal's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 earnings per share. As a group, equities research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.
Insider Buying and Selling
In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. Relyea Zuckerberg Hanson LLC boosted its holdings in PayPal by 113.8% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider's stock valued at $638,000 after purchasing an additional 3,976 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of PayPal during the 3rd quarter valued at approximately $387,435,000. Nikko Asset Management Americas Inc. lifted its holdings in PayPal by 2.7% in the fourth 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 grew its position 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 acquiring an additional 7,291 shares during the period. Finally, Franklin Resources Inc. grew its position in PayPal by 120.3% in the third quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider's stock worth $125,461,000 after acquiring an additional 849,311 shares during the period. Institutional investors and hedge funds own 68.32% of the company's stock.
About PayPal
(
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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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