PayPal (NASDAQ:PYPL) Reaches New 1-Year High – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $80.98 and last traded at $80.83, with a volume of 1762843 shares changing hands. The stock had previously closed at $80.26.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PYPL. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price target on shares of PayPal in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price target on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. William Blair upgraded PayPal to a “hold” rating in a report on Tuesday, July 30th. Finally, Argus upgraded PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Seventeen equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.41.

PayPal Trading Up 0.6 %

The firm has a market capitalization of $82.56 billion, a P/E ratio of 20.36, a PEG ratio of 1.41 and a beta of 1.44. 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 business has a 50-day moving average price of $70.69 and a 200-day moving average price of $65.61.

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

Institutional Trading of PayPal

Several institutional investors have recently bought and sold shares of PYPL. Primecap Management Co. CA boosted its stake in PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after buying an additional 3,184,160 shares in the last quarter. Clearbridge Investments LLC boosted its stake in PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in PayPal by 31.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock worth $194,262,000 after purchasing an additional 687,940 shares in the last quarter. Swedbank AB acquired a new position in PayPal in the first quarter worth $42,297,000. Finally, Greenvale Capital LLP boosted its stake in PayPal by 54.5% in the fourth quarter. Greenvale Capital LLP now owns 1,700,000 shares of the credit services provider’s stock worth $104,397,000 after purchasing an additional 600,000 shares in 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.