PayPal (NASDAQ:PYPL) Trading Up 0.6% - Time to Buy?

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report)'s stock price was up 0.6% during trading on Wednesday . The company traded as high as $87.40 and last traded at $86.88. Approximately 2,299,760 shares changed hands during trading, a decline of 83% from the average daily volume of 13,487,888 shares. The stock had previously closed at $86.40.

Analysts Set New Price Targets

A number of analysts recently weighed in on PYPL shares. TD Cowen increased their price objective on PayPal from $68.00 to $70.00 and gave the company a "hold" rating in a report on Wednesday, July 31st. Morgan Stanley increased their price target on PayPal from $71.00 to $76.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their target price on PayPal from $74.00 to $94.00 and gave the company a "buy" rating in a report on Monday, September 23rd. Finally, BMO Capital Markets raised their price target on shares of PayPal from $73.00 to $82.00 and gave the stock a "market perform" rating in a report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $83.45.

PayPal Stock Performance

The company's 50 day simple moving average is $77.95 and its 200 day simple moving average is $68.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $87.53 billion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43.

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

Hedge Funds Weigh In On PayPal

Several institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. grew its position in shares of PayPal by 31.6% during the 3rd quarter. D.A. Davidson & CO. now owns 201,397 shares of the credit services provider's stock valued at $15,715,000 after acquiring an additional 48,383 shares during the period. FMR LLC lifted its stake in PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider's stock valued at $1,307,945,000 after purchasing an additional 7,767,072 shares during the last quarter. West Tower Group LLC grew its holdings in PayPal by 50.7% during the third quarter. West Tower Group LLC now owns 17,043 shares of the credit services provider's stock valued at $1,330,000 after purchasing an additional 5,736 shares during the period. The Manufacturers Life Insurance Company increased its position in PayPal by 29.3% in the third quarter. The Manufacturers Life Insurance Company now owns 1,758,100 shares of the credit services provider's stock worth $137,185,000 after buying an additional 397,985 shares during the last quarter. Finally, Truvestments Capital LLC increased its position in PayPal by 4.0% in the third quarter. Truvestments Capital LLC now owns 8,513 shares of the credit services provider's stock worth $664,000 after buying an additional 327 shares during the last quarter. Institutional investors 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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