PayPal (NASDAQ:PYPL) Releases Q2 2024 Earnings Guidance

PayPal (NASDAQ:PYPL) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.830-0.830 for the period, compared to the consensus estimate of 1.130. The company issued revenue guidance of $7.8 billion-$7.8 billion, compared to the consensus revenue estimate of $7.3 billion. PayPal also updated its FY 2024 guidance to 3.650-3.650 EPS.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. DZ Bank lowered PayPal from a buy rating to a hold rating and set a $60.00 price objective for the company. in a research report on Friday, February 9th. Argus cut PayPal from a buy rating to a hold rating in a report on Friday, February 9th. JPMorgan Chase & Co. lowered their price objective on shares of PayPal from $75.00 to $70.00 and set an overweight rating for the company in a research note on Thursday, February 8th. Wells Fargo & Company increased their target price on shares of PayPal from $55.00 to $60.00 and gave the stock an equal weight rating in a research note on Monday, January 29th. Finally, BMO Capital Markets dropped their price objective on shares of PayPal from $65.00 to $60.00 and set a market perform rating on the stock in a report on Thursday, February 8th. Twenty-three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $70.72.

PayPal Stock Up 1.6 %

PYPL stock opened at $66.99 on Tuesday. PayPal has a 1-year low of $50.25 and a 1-year high of $76.54. The stock has a market cap of $70.52 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.23 and a beta of 1.45. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $63.03 and its 200 day moving average is $60.27.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 20.84%. The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter last year, the business posted $0.86 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts predict that PayPal will post 4.02 EPS for the current fiscal year.

Insider Transactions at PayPal

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