PayPal (NASDAQ:PYPL) Hits New 12-Month High – Here’s What Happened

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $88.74 and last traded at $88.60, with a volume of 262815 shares traded. The stock had previously closed at $86.77.

Analysts Set New Price Targets

PYPL has been the topic of a number of analyst reports. Monness Crespi & Hardt lifted their price target on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Canaccord Genuity Group raised their price objective on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays increased their target price on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Stephens boosted their price target on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a report on Wednesday, October 30th. Sixteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.60.

PayPal Stock Performance

The company has a market cap of $87.31 billion, a PE ratio of 21.03, a P/E/G ratio of 1.54 and a beta of 1.43. The stock’s 50 day simple moving average is $80.41 and its two-hundred day simple moving average is $69.72. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. As a group, research analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Institutional Trading of PayPal

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of PayPal in the third quarter worth $26,000. Family Firm Inc. purchased a new position in PayPal in the second quarter valued at about $29,000. SYSTM Wealth Solutions LLC lifted its stake in shares of PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares in the last quarter. Tortoise Investment Management LLC boosted its position in shares of PayPal by 930.0% in the second 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 during the period. Finally, Planning Capital Management Corp grew its stake in shares of PayPal by 186.1% in 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 in the last quarter. Institutional investors and hedge funds own 68.32% 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.