PayPal (NASDAQ:PYPL) Trading 0.2% Higher

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price traded up 0.2% during mid-day trading on Wednesday . The company traded as high as $65.09 and last traded at $64.57. 2,314,079 shares were traded during mid-day trading, a decline of 86% from the average session volume of 16,228,467 shares. The stock had previously closed at $64.43.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $85.00 target price on shares of PayPal in a research report on Thursday, February 8th. JPMorgan Chase & Co. decreased their price objective on PayPal from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, February 8th. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a report on Friday, April 5th. JMP Securities increased their price objective on PayPal from $68.00 to $70.00 and gave the company a “market outperform” rating in a report on Wednesday, April 17th. Finally, Argus cut shares of PayPal from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, PayPal presently has an average rating of “Hold” and a consensus price target of $70.47.

PayPal Trading Down 1.1 %

The firm’s 50 day moving average price is $62.73 and its 200-day moving average price is $60.10. The stock has a market cap of $67.47 billion, a P/E ratio of 16.69, a P/E/G ratio of 1.21 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 earnings per share. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 4.02 earnings per share for the current year.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the sale, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Several institutional investors have recently bought and sold shares of the stock. Morgan Stanley lifted its position in PayPal by 4.5% during the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after purchasing an additional 873,181 shares during the last quarter. Norges Bank bought a new position in PayPal during the fourth quarter valued at $749,561,000. Northern Trust Corp lifted its position in PayPal by 0.7% during the third quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock valued at $687,902,000 after purchasing an additional 78,105 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in PayPal by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock valued at $428,449,000 after purchasing an additional 265,116 shares during the last quarter. Finally, FMR LLC lifted its position in PayPal by 29.5% during the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after purchasing an additional 1,575,930 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.