PayPal (NASDAQ:PYPL) Releases Q2 2024 Earnings Guidance

PayPal (NASDAQ:PYPL) updated its second quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.830-0.830 for the period, compared to the consensus EPS estimate of 1.130. The company issued revenue guidance of $7.8 billion-$7.8 billion, compared to the consensus revenue estimate of $7.3 billion. PayPal also updated its FY 2024 guidance to 3.650-3.650 EPS.

Analysts Set New Price Targets

Several equities research analysts have commented on PYPL shares. Monness Crespi & Hardt boosted their price target on shares of PayPal from $80.00 to $88.00 and gave the stock a buy rating in a research report on Monday. William Blair restated an outperform rating on shares of PayPal in a research report on Thursday, February 8th. JMP Securities increased their price objective on PayPal from $68.00 to $70.00 and gave the company a market outperform rating in a research report on Wednesday, April 17th. Wells Fargo & Company lifted their target price on PayPal from $55.00 to $60.00 and gave the stock an equal weight rating in a report on Monday, January 29th. Finally, Susquehanna upped their target price on PayPal from $61.00 to $65.00 and gave the company a neutral rating in a report on Wednesday, January 24th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $70.72.

PayPal Trading Up 1.6 %

Shares of PYPL stock opened at $66.99 on Tuesday. The business’s 50 day moving average is $63.03 and its two-hundred day moving average is $60.27. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46. PayPal has a 12 month low of $50.25 and a 12 month high of $76.54. The company has a market cap of $70.52 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.23 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 20.84%. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts predict that PayPal will post 4.02 EPS for the current year.

Insider Activity

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

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.