PayPal (NASDAQ:PYPL) Shares Up 0.1% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price was up 0.1% during trading on Wednesday . The stock traded as high as $82.00 and last traded at $81.25. Approximately 1,861,873 shares changed hands during trading, a decline of 87% from the average daily volume of 13,856,490 shares. The stock had previously closed at $81.16.

Wall Street Analyst Weigh In

Several analysts have issued reports on PYPL shares. Wells Fargo & Company increased their price objective on shares of PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Jefferies Financial Group cut their target price on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. Finally, Sanford C. Bernstein upgraded PayPal from a “market perform” rating to an “outperform” rating and raised their target price for the company from $71.00 to $78.00 in a research note on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, PayPal has an average rating of “Moderate Buy” and an average price target of $76.41.

PayPal Price Performance

The stock has a market capitalization of $85.38 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44. The company’s 50-day simple moving average is $71.46 and its 200-day simple moving average is $65.82. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data 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 firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 earnings per share. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Institutional Investors Weigh In On PayPal

A number of institutional investors have recently modified their holdings of the business. State of Tennessee Treasury Department grew its stake in PayPal by 22.9% during the fourth quarter. State of Tennessee Treasury Department now owns 260,099 shares of the credit services provider’s stock worth $15,973,000 after buying an additional 48,411 shares in the last quarter. Putnam Investments LLC raised its holdings in shares of PayPal by 19.8% during the 4th quarter. Putnam Investments LLC now owns 630,289 shares of the credit services provider’s stock worth $38,706,000 after buying an additional 104,328 shares in the last quarter. Caxton Associates LP raised its stake in PayPal by 1,514.6% during the fourth quarter. Caxton Associates LP now owns 319,807 shares of the credit services provider’s stock worth $19,639,000 after acquiring an additional 300,000 shares in the last quarter. First Financial Bankshares Inc bought a new position in shares of PayPal in the 4th quarter valued at $4,763,000. Finally, Garner Asset Management Corp bought a new position in PayPal in the fourth quarter valued at about $87,000. Institutional investors 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.