PayPal (NASDAQ:PYPL) Stock Price Up 0.6% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL) shares shot up 0.6% on Wednesday . The stock traded as high as $85.60 and last traded at $84.62. 1,463,473 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 13,400,553 shares. The stock had previously closed at $84.09.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PYPL shares. Jefferies Financial Group lowered their price objective on shares of PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. BMO Capital Markets raised their target price 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. Macquarie increased their price objective on shares of PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price target on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Fifteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.45.

PayPal Price Performance

The stock has a market cap of $84.62 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 1.53 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The business has a 50-day simple moving average of $79.47 and a 200 day simple moving average of $69.29.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping 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 business had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the prior year, the business earned $0.97 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts forecast that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

Institutional investors have recently bought and sold shares of the stock. Gordian Capital Singapore Pte Ltd bought a new position in shares of PayPal during the 3rd quarter valued at approximately $26,000. Family Firm Inc. bought a new position in PayPal during the second quarter valued at $29,000. SYSTM Wealth Solutions LLC increased its position in PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares during the last quarter. Tortoise Investment Management LLC raised its stake in shares of PayPal by 930.0% in the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after buying an additional 465 shares during the period. Finally, Planning Capital Management Corp lifted its position in shares of PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after buying an additional 268 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

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.