PayPal (NASDAQ:PYPL) Announces Quarterly Earnings Results

PayPal (NASDAQ:PYPL) issued its quarterly earnings results on Tuesday. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14), RTT News reports. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. PayPal updated its FY 2024 guidance to 3.650-3.650 EPS and its Q2 2024 guidance to 0.830-0.830 EPS.

PayPal Price Performance

Shares of PayPal stock traded up $0.93 during mid-day trading on Tuesday, reaching $67.92. 43,146,336 shares of the stock traded hands, compared to its average volume of 16,583,006. The stock has a market capitalization of $71.50 billion, a PE ratio of 17.69, a PEG ratio of 1.23 and a beta of 1.45. The business has a 50-day moving average of $63.21 and a 200 day moving average of $60.35. PayPal has a fifty-two week low of $50.25 and a fifty-two week high of $76.54. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PYPL. Evercore ISI raised their target price on PayPal from $56.00 to $60.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. Daiwa Capital Markets cut PayPal from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $64.00 to $62.00 in a research note on Tuesday, February 13th. Sanford C. Bernstein lifted their target price on PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Canaccord Genuity Group cut their price target on shares of PayPal from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PayPal from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. Twenty-four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, PayPal presently has an average rating of “Hold” and a consensus price target of $70.72.

Insider Transactions at PayPal

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