PayPal (NASDAQ:PYPL) Trading 3.5% Higher - Time to Buy?

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) traded up 3.5% during trading on Wednesday . The stock traded as high as $64.57 and last traded at $63.54. 3,485,946 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 11,428,355 shares. The stock had previously closed at $61.42.

Analyst Ratings Changes

Several research firms recently issued reports on PYPL. Needham & Company LLC reiterated a "hold" rating on shares of PayPal in a report on Wednesday, February 26th. Bank of America reduced their price objective on PayPal from $103.00 to $93.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Susquehanna lifted their price objective on PayPal from $94.00 to $101.00 and gave the company a "positive" rating in a research note on Monday, January 6th. Evercore ISI initiated coverage on shares of PayPal in a report on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 target price on the stock. Finally, Citigroup reaffirmed an "outperform" rating on shares of PayPal in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $85.88.

PayPal Stock Performance

The stock has a 50-day moving average price of $67.60 and a 200 day moving average price of $78.94. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market cap of $62.15 billion, a PE ratio of 15.67, 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, beating analysts' consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. PayPal's revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.48 earnings per share. Research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Insider Activity at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the firm's stock in a transaction that occurred on 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 sale, the director now owns 29,734 shares of the company's stock, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PYPL. Horizon Bancorp Inc. IN increased its holdings in PayPal by 22.9% in the first quarter. Horizon Bancorp Inc. IN now owns 2,376 shares of the credit services provider's stock valued at $155,000 after buying an additional 442 shares during the last quarter. Penn Davis Mcfarland Inc. raised its position in shares of PayPal by 0.4% during the 1st quarter. Penn Davis Mcfarland Inc. now owns 625,615 shares of the credit services provider's stock valued at $40,821,000 after acquiring an additional 2,232 shares in the last quarter. Econ Financial Services Corp bought a new stake in PayPal during the first quarter valued at $858,000. Moran Wealth Management LLC acquired a new stake in shares of PayPal during the first quarter worth $9,099,000. Finally, Sava Infond d.o.o. acquired a new position in shares of PayPal in the 1st quarter valued at about $98,000. 68.32% of the stock is owned by institutional investors and hedge funds.

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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