PayPal (NASDAQ:PYPL) Trading 1.8% Higher

PayPal Holdings, Inc. (NASDAQ:PYPL) shares traded up 1.8% during mid-day trading on Tuesday . The company traded as high as $59.26 and last traded at $58.84. 4,016,254 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 14,926,534 shares. The stock had previously closed at $57.81.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup raised their price target on PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $84.00 target price on shares of PayPal in a research note on Friday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $69.00 target price on shares of PayPal in a research note on Monday, June 24th. Monness Crespi & Hardt increased their target price on PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Finally, Susquehanna upgraded PayPal from a “neutral” rating to a “positive” rating and set a $71.00 target price on the stock in a research note on Tuesday. Twenty equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.82.

PayPal Price Performance

The firm has a market capitalization of $61.12 billion, a PE ratio of 14.82, a PEG ratio of 0.95 and a beta of 1.42. The stock has a 50-day moving average price of $63.18 and a 200 day moving average price of $62.43. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. Equities analysts forecast that PayPal Holdings, Inc. will post 4.14 EPS for the current fiscal year.

Insider Activity

In related news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the completion of the sale, the director now directly owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Institutional Trading of PayPal

Several large investors have recently made changes to their positions in the company. Red Spruce Capital LLC increased its position in shares of PayPal by 9.1% during the second quarter. Red Spruce Capital LLC now owns 92,197 shares of the credit services provider’s stock worth $5,350,000 after purchasing an additional 7,663 shares in the last quarter. Lazari Capital Management Inc. lifted its stake in shares of PayPal by 13.0% in the 1st quarter. Lazari Capital Management Inc. now owns 27,979 shares of the credit services provider’s stock valued at $1,874,000 after purchasing an additional 3,227 shares during the last quarter. SRN Advisors LLC lifted its stake in shares of PayPal by 10.7% in the 1st quarter. SRN Advisors LLC now owns 23,331 shares of the credit services provider’s stock valued at $1,563,000 after purchasing an additional 2,264 shares during the last quarter. Keynote Financial Services LLC acquired a new position in shares of PayPal in the 1st quarter valued at $539,000. Finally, OMC Financial Services LTD acquired a new position in shares of PayPal in the 1st quarter valued at $229,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

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.