PayPal (NASDAQ:PYPL) Stock Price Up 0.4% – What’s Next?

PayPal Holdings, Inc. (NASDAQ:PYPL) shares rose 0.4% during mid-day trading on Tuesday . The stock traded as high as $80.99 and last traded at $80.85. Approximately 1,516,766 shares changed hands during trading, a decline of 89% from the average daily volume of 13,583,659 shares. The stock had previously closed at $80.56.

Analyst Ratings Changes

PYPL has been the subject of several analyst reports. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. William Blair raised PayPal to a “hold” rating in a research note on Tuesday, July 30th. Evercore ISI upped their price objective on shares of PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Macquarie raised their target price on shares of PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Sanford C. Bernstein lowered shares of PayPal from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $75.00 to $80.00 in a research report on Thursday, October 10th. Sixteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PayPal currently has an average rating of “Moderate Buy” and an average target price of $78.03.

PayPal Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $83.02 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 1.47 and a beta of 1.44. The business’s 50 day moving average price is $74.50 and its two-hundred day moving average price is $66.74.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. The company had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.83 EPS. Equities analysts forecast that PayPal Holdings, Inc. will post 4.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PayPal

Several large investors have recently made changes to their positions in PYPL. Pittenger & Anderson Inc. lifted its stake in PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of PayPal during the 2nd quarter valued at $29,000. SYSTM Wealth Solutions LLC boosted its stake in shares of PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. Register Financial Advisors LLC acquired a new position in shares of PayPal in the 1st quarter worth $30,000. Finally, Tortoise Investment Management LLC raised its position in shares of PayPal by 930.0% during the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 465 shares during the period. 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.