PayPal (NASDAQ:PYPL) Shares Up 0.8%

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price rose 0.8% on Wednesday . The stock traded as high as $73.07 and last traded at $72.33. Approximately 2,985,413 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 13,943,020 shares. The stock had previously closed at $71.77.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PYPL shares. Evercore ISI upped their price target on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. TD Cowen increased their target price on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. UBS Group increased their price target on shares of PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group dropped their price objective on shares of PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Eighteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.56.

PayPal Stock Performance

The stock has a market cap of $76.06 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.00 and a beta of 1.43. The stock has a fifty day moving average of $66.04 and a 200-day moving average of $64.10. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same period last year, the business posted $0.83 EPS. The company’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Hedge Funds Weigh In On PayPal

Several institutional investors have recently bought and sold shares of PYPL. SYSTM Wealth Solutions LLC increased its stake in shares of PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares during the period. Pittenger & Anderson Inc. raised its stake in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after buying an additional 172 shares in the last quarter. Verity Asset Management Inc. lifted its holdings in shares of PayPal by 1.9% in the 1st quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock valued at $650,000 after buying an additional 181 shares during the period. Indiana Trust & Investment Management CO boosted its stake in shares of PayPal by 18.6% in the first quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock valued at $79,000 after buying an additional 184 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in PayPal by 3.1% during the second quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock worth $358,000 after acquiring an additional 184 shares during the period. 68.32% of the stock is 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.