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

PayPal Holdings, Inc. (NASDAQ:PYPL) was up 0.4% during trading on Tuesday . The stock traded as high as $80.99 and last traded at $80.85. Approximately 1,516,766 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 13,583,659 shares. The stock had previously closed at $80.56.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PYPL. TD Cowen upped their price target on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Monness Crespi & Hardt boosted their price target on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $84.00 price target on shares of PayPal in a report on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Stephens upped their target price on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.03.

PayPal Price Performance

The firm has a market cap of $82.63 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 1.47 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The firm’s 50 day moving average is $75.11 and its 200 day moving average is $66.95.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the previous year, the firm posted $0.83 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that PayPal Holdings, Inc. will post 4.44 earnings per share for the current year.

Institutional Trading of PayPal

Institutional investors and hedge funds have recently bought and sold shares of the company. Brown Financial Advisors purchased a new position in PayPal in the 2nd quarter worth approximately $1,454,000. Cape Cod Five Cents Savings Bank purchased a new position in shares of PayPal in the second quarter worth $3,014,000. Distillate Capital Partners LLC lifted its holdings in shares of PayPal by 156,934.7% during the second quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock valued at $19,957,000 after purchasing an additional 343,687 shares in the last quarter. Fiduciary Alliance LLC boosted its position in shares of PayPal by 604.7% during the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after buying an additional 45,544 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in PayPal by 44.6% in the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after buying an additional 381 shares during the last quarter. 68.32% of the stock is currently owned by 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.