PayPal (NASDAQ:PYPL) Hits New 52-Week High at $79.25

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $79.25 and last traded at $78.71, with a volume of 1142391 shares traded. The stock had previously closed at $78.34.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PYPL. Macquarie increased their price target on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $84.00 target price on shares of PayPal in a report on Wednesday, July 31st. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. New Street Research began coverage on shares of PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a report on Monday. Seventeen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and a consensus target price of $76.16.

PayPal Stock Up 0.2 %

The firm has a market capitalization of $80.26 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 1.11 and a beta of 1.43. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average price is $67.68 and its 200 day moving average price is $64.73.

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. The company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 EPS. As a group, research analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PayPal

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pittenger & Anderson Inc. increased its stake in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the period. American National Bank purchased a new position in shares of PayPal during the 1st quarter valued at about $27,000. Family Firm Inc. acquired a new position in shares of PayPal in the 2nd quarter valued at about $29,000. SYSTM Wealth Solutions LLC grew its holdings in 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. Finally, Register Financial Advisors LLC purchased a new stake in PayPal in the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.