PayPal (NASDAQ:PYPL) Trading Up 0.4% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price was up 0.4% during trading on Monday . The stock traded as high as $61.48 and last traded at $58.63. Approximately 6,873,113 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 11,302,150 shares. The stock had previously closed at $58.37.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PYPL shares. Robert W. Baird lowered their price objective on PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of PayPal in a report on Wednesday, February 5th. Macquarie raised their price objective on shares of PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Citigroup restated an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Finally, Arete Research set a $81.00 price target on shares of PayPal in a research note on Thursday, March 27th. Fifteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.13.

PayPal Stock Performance

The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $57.90 billion, a PE ratio of 14.60, a PEG ratio of 1.27 and a beta of 1.60. The stock’s 50 day moving average price is $73.01 and its two-hundred day moving average price is $80.50.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 earnings per share. On average, equities analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Insiders Place Their Bets

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the 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 transaction, the director now owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

A number of large investors have recently modified their holdings of PYPL. Relyea Zuckerberg Hanson LLC lifted its position in PayPal by 113.8% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after buying an additional 3,976 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in shares of PayPal by 2.7% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider’s stock valued at $59,489,000 after acquiring an additional 18,172 shares in the last quarter. ExodusPoint Capital Management LP boosted its position in PayPal by 223.1% during the 4th quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider’s stock worth $22,622,000 after purchasing an additional 183,011 shares during the period. StoneX Group Inc. raised its position in PayPal by 70.4% in the fourth quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider’s stock valued at $2,326,000 after purchasing an additional 11,260 shares during the period. Finally, Fortem Financial Group LLC lifted its stake in shares of PayPal by 28.0% during the fourth quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock worth $2,842,000 after purchasing an additional 7,291 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

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.