PayPal (NASDAQ:PYPL) Shares Up 0.6% – Here’s Why

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) shot up 0.6% during trading on Wednesday . The stock traded as high as $85.60 and last traded at $84.62. 1,463,473 shares changed hands during trading, a decline of 89% from the average session volume of 13,400,553 shares. The stock had previously closed at $84.09.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. Oppenheimer began coverage on PayPal in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group decreased their price objective on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Fifteen research 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 MarketBeat, PayPal currently has an average rating of “Moderate Buy” and a consensus price target of $83.45.

PayPal Stock Performance

The company’s fifty day moving average is $80.07 and its 200 day moving average is $69.51. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $85.26 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.50 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period in the prior year, the company earned $0.97 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

Institutional Trading of PayPal

Institutional investors have recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd bought a new stake in shares of PayPal during the third quarter valued at approximately $26,000. Family Firm Inc. bought a new stake in PayPal during the second quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC lifted its position in shares of PayPal by 50.6% during the 2nd 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. Tortoise Investment Management LLC increased its stake in PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after buying an additional 465 shares in the last quarter. Finally, Planning Capital Management Corp raised its position in shares of PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after buying an additional 268 shares during the last quarter. 68.32% of the stock is currently 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.