PayPal (NASDAQ:PYPL) Stock Price Up 0.8% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price rose 0.8% during trading on Thursday . The stock traded as high as $82.48 and last traded at $81.46. Approximately 2,849,762 shares were traded during trading, a decline of 79% from the average daily volume of 13,531,777 shares. The stock had previously closed at $80.83.

Wall Street Analysts Forecast Growth

PYPL has been the topic of several analyst reports. Jefferies Financial Group dropped their target price on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. TD Cowen raised their target price on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price objective on shares of PayPal in a report on Wednesday, July 31st. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $68.00 to $72.00 in a report on Friday, August 9th. Finally, BMO Capital Markets raised their price objective on PayPal from $72.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Sixteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $78.03.

PayPal Stock Performance

The stock has a market cap of $83.26 billion, a PE ratio of 19.74, a P/E/G ratio of 1.47 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 stock has a 50-day moving average of $75.11 and a 200 day moving average of $66.95.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business earned $0.83 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts predict that PayPal Holdings, Inc. will post 4.44 EPS for the current fiscal year.

Institutional Investors Weigh In On PayPal

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pittenger & Anderson Inc. grew 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 valued at $26,000 after buying an additional 172 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in shares of PayPal in the first quarter valued at $30,000. CarsonAllaria Wealth Management Ltd. grew its stake in shares of PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of PayPal in the second quarter valued at $29,000. Finally, SYSTM Wealth Solutions LLC grew its stake in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares in the last quarter. Hedge funds and other 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.