PayPal (NASDAQ:PYPL) Stock Price Up 2.6% - Here's What Happened

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) were up 2.6% during trading on Thursday . The stock traded as high as $64.16 and last traded at $64.10. Approximately 3,768,794 shares traded hands during trading, a decline of 67% from the average daily volume of 11,428,502 shares. The stock had previously closed at $62.46.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Robert W. Baird cut 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. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of PayPal in a report on Tuesday, February 4th. Piper Sandler lowered their price target on shares of PayPal from $85.00 to $76.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley lifted their price target on PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Finally, Susquehanna upped their target price on PayPal from $94.00 to $101.00 and gave the stock a "positive" rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PayPal presently has an average rating of "Moderate Buy" and an average target price of $85.88.

PayPal Trading Up 0.9 %

The stock has a market cap of $64.64 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The firm has a 50-day moving average price of $66.76 and a 200-day moving average price of $78.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26.

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

Insider Buying and Selling at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On PayPal

Several large investors have recently bought and sold shares of the business. Anchor Investment Management LLC increased its position in PayPal by 9.9% during the third quarter. Anchor Investment Management LLC now owns 35,219 shares of the credit services provider's stock valued at $2,748,000 after acquiring an additional 3,175 shares during the last quarter. Boyar Asset Management Inc. purchased a new stake in PayPal in the third quarter worth $208,000. World Investment Advisors LLC purchased a new stake in shares of PayPal during the third quarter valued at $5,296,000. Sfmg LLC purchased a new position in shares of PayPal during the third quarter worth approximately $234,000. Finally, Wilmington Savings Fund Society FSB grew its stake in PayPal by 196.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 10,221 shares of the credit services provider's stock worth $798,000 after purchasing an additional 6,772 shares in 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.