PayPal (NASDAQ:PYPL) Trading 1.1% Higher – Time to Buy?

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price shot up 1.1% during trading on Friday . The company traded as high as $86.09 and last traded at $85.74. 1,050,336 shares were traded during mid-day trading, a decline of 92% from the average session volume of 13,339,372 shares. The stock had previously closed at $84.82.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PYPL. Barclays boosted their price target on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, September 27th. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a report on Sunday, November 3rd. Wells Fargo & Company upped their price objective on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird upped their price objective on shares of PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.60.

PayPal Trading Up 2.0 %

The company has a fifty day simple moving average of $80.07 and a two-hundred day simple moving average of $69.51. The company has a market capitalization of $86.74 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 1.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the firm posted $0.97 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts forecast that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PayPal

Large investors have recently made changes to their positions in the business. Mizuho Securities USA LLC lifted its holdings in shares of PayPal by 12,919.4% during the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after buying an additional 10,419,351 shares during the last quarter. FMR LLC boosted its holdings in PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after purchasing an additional 7,767,072 shares during the period. World Investment Advisors LLC acquired a new stake in PayPal in the 3rd quarter worth $387,435,000. Primecap Management Co. CA increased its holdings in shares of PayPal by 180.7% during the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after purchasing an additional 3,184,160 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares during the last quarter. Institutional investors and hedge funds 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.