PayPal (NASDAQ:PYPL) Shares Up 2.8% - Should You Buy?

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) rose 2.8% on Tuesday . The stock traded as high as $61.26 and last traded at $60.19. Approximately 4,657,046 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 11,326,836 shares. The stock had previously closed at $58.53.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com upgraded PayPal from a "hold" rating to a "buy" rating in a research report on Sunday, April 6th. Robert W. Baird dropped their price target on shares of PayPal from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Morgan Stanley upped their price objective 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. Barclays lifted their target price on shares of PayPal from $92.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Finally, Arete Research set a $81.00 price target on shares of PayPal in a research report on Thursday, March 27th. Fifteen 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. Based on data from MarketBeat, PayPal currently has an average rating of "Moderate Buy" and an average price target of $88.32.

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PayPal Stock Up 3.4 %

The stock's 50-day moving average price is $69.88 and its two-hundred day moving average price is $79.77. 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 stock has a market capitalization of $61.92 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.27 and a beta of 1.60.

PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.08. The business had revenue of $8.37 billion during 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 business's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the business posted $1.48 earnings per share. As a group, research analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Activity at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PayPal

A number of large investors have recently made changes to their positions in the stock. Continuum Advisory LLC boosted its position in shares of PayPal by 285.8% during the 3rd quarter. Continuum Advisory LLC now owns 760 shares of the credit services provider's stock valued at $65,000 after acquiring an additional 563 shares during the last quarter. Virtue Capital Management LLC purchased a new stake in PayPal in the third quarter worth approximately $202,000. Soltis Investment Advisors LLC bought a new position in PayPal during the third quarter valued at approximately $201,000. Anchor Investment Management LLC raised its stake in shares of PayPal by 9.9% during the third quarter. Anchor Investment Management LLC now owns 35,219 shares of the credit services provider's stock worth $2,748,000 after acquiring an additional 3,175 shares in the last quarter. Finally, Boyar Asset Management Inc. purchased a new stake in shares of PayPal in the 3rd quarter valued at $208,000. 68.32% of the stock is owned by 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.