PayPal (NASDAQ:PYPL) Trading Up 1.6% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price was up 1.6% during trading on Monday . The company traded as high as $88.74 and last traded at $88.13. Approximately 2,471,181 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 13,316,860 shares. The stock had previously closed at $86.77.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PYPL shares. JPMorgan Chase & Co. increased their price objective on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a report on Wednesday, September 18th. Macquarie upped their target price on PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Finally, UBS Group upped their target price on PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.60.

PayPal Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a 50 day simple moving average of $81.04 and a 200-day simple moving average of $70.06. The stock has a market capitalization of $86.79 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm 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 company posted $0.97 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of PayPal by 1.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,472,635 shares of the credit services provider’s stock valued at $98,653,000 after buying an additional 23,991 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of PayPal by 9.9% in the first quarter. B. Riley Wealth Advisors Inc. now owns 46,381 shares of the credit services provider’s stock valued at $3,107,000 after buying an additional 4,169 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in PayPal by 1,030.1% in the first quarter. Plato Investment Management Ltd now owns 30,162 shares of the credit services provider’s stock valued at $2,021,000 after acquiring an additional 27,493 shares during the last quarter. New Covenant Trust Company N.A. bought a new position in PayPal in the first quarter valued at about $64,000. Finally, Citizens Financial Group Inc. RI boosted its holdings in PayPal by 5.4% in the first quarter. Citizens Financial Group Inc. RI now owns 10,485 shares of the credit services provider’s stock valued at $702,000 after acquiring an additional 538 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.