PayPal (NASDAQ:PYPL) Shares Up 1.6%

PayPal Holdings, Inc. (NASDAQ:PYPL) shot up 1.6% during mid-day trading on Tuesday . The stock traded as high as $64.40 and last traded at $64.22. 2,308,832 shares traded hands during trading, a decline of 86% from the average session volume of 16,306,054 shares. The stock had previously closed at $63.19.

Analyst Ratings Changes

Several brokerages recently issued reports on PYPL. Evercore ISI boosted their target price on shares of PayPal from $56.00 to $60.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Sanford C. Bernstein upped their price target on shares of PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Wedbush reiterated an “outperform” rating and issued a $85.00 price target on shares of PayPal in a research report on Thursday, February 8th. William Blair reiterated an “outperform” rating on shares of PayPal in a research report on Thursday, February 8th. Finally, BTIG Research reiterated a “neutral” rating on shares of PayPal in a research report on Friday, January 5th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $70.47.

PayPal Stock Up 0.6 %

The firm has a market capitalization of $68.25 billion, a P/E ratio of 16.89, a PEG ratio of 1.20 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. The business’s fifty day moving average price is $62.65 and its two-hundred day moving average price is $60.08.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The business had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the business earned $1.01 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. Equities analysts expect that PayPal Holdings, Inc. will post 4.02 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the sale, the senior vice president now directly owns 23,430 shares in the company, valued at approximately $1,420,795.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Several hedge funds and other institutional investors have recently modified their holdings of PYPL. Ritholtz Wealth Management raised its position in shares of PayPal by 32.5% in the 3rd quarter. Ritholtz Wealth Management now owns 4,603 shares of the credit services provider’s stock valued at $269,000 after purchasing an additional 1,130 shares during the last quarter. Avior Wealth Management LLC raised its position in PayPal by 1.6% during the 3rd quarter. Avior Wealth Management LLC now owns 13,406 shares of the credit services provider’s stock worth $784,000 after buying an additional 205 shares during the last quarter. Founders Financial Securities LLC raised its position in PayPal by 9.3% during the 3rd quarter. Founders Financial Securities LLC now owns 6,541 shares of the credit services provider’s stock worth $382,000 after buying an additional 557 shares during the last quarter. Exchange Traded Concepts LLC raised its position in PayPal by 5.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 34,379 shares of the credit services provider’s stock worth $2,010,000 after buying an additional 1,885 shares during the last quarter. Finally, Caprock Group LLC raised its position in PayPal by 14.1% during the 3rd quarter. Caprock Group LLC now owns 17,262 shares of the credit services provider’s stock worth $1,009,000 after buying an additional 2,132 shares during the last quarter. 68.32% of the stock is 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.