PayPal (NASDAQ:PYPL) Trading 0.7% Higher – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL) shares rose 0.7% during mid-day trading on Thursday . The stock traded as high as $82.74 and last traded at $81.94. Approximately 1,840,647 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 13,543,814 shares. The stock had previously closed at $81.41.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PYPL shares. Canaccord Genuity Group boosted their price target on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group reduced their price target on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Stephens upped their price objective on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. UBS Group raised their target price on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird increased their price target on shares of PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal Price Performance

The stock has a 50 day moving average of $77.00 and a two-hundred day moving average of $68.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $81.63 billion, a PE ratio of 19.56, a PEG ratio of 1.39 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts anticipate that PayPal Holdings, Inc. will post 4.56 EPS for the current year.

Hedge Funds Weigh In On PayPal

A number of large investors have recently made changes to their positions in PYPL. Central Pacific Bank Trust Division acquired a new position in shares of PayPal in the 1st quarter valued at about $176,000. GSA Capital Partners LLP grew its holdings in PayPal by 12.3% during the first quarter. GSA Capital Partners LLP now owns 13,341 shares of the credit services provider’s stock valued at $894,000 after purchasing an additional 1,465 shares during the last quarter. Advisory Services Network LLC grew its holdings in PayPal by 0.9% during the first quarter. Advisory Services Network LLC now owns 97,012 shares of the credit services provider’s stock valued at $6,499,000 after purchasing an additional 829 shares during the last quarter. Empirical Finance LLC grew its holdings in PayPal by 3.3% during the first quarter. Empirical Finance LLC now owns 40,890 shares of the credit services provider’s stock valued at $2,739,000 after purchasing an additional 1,294 shares during the last quarter. Finally, LSV Asset Management grew its holdings in PayPal by 17.3% during the first quarter. LSV Asset Management now owns 2,480,900 shares of the credit services provider’s stock valued at $166,195,000 after purchasing an additional 365,300 shares during the last quarter. Institutional investors and hedge funds own 68.32% 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.