PayPal (NASDAQ:PYPL) Trading 0.6% Higher – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL) shares shot up 0.6% during mid-day trading on Tuesday . The company traded as high as $78.67 and last traded at $78.44. 3,479,354 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 11,245,945 shares. The stock had previously closed at $77.97.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and upped their price target for the company from $86.00 to $103.00 in a report on Monday, December 9th. Morgan Stanley lowered their price objective on shares of PayPal from $90.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. The Goldman Sachs Group increased their target price on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday, February 5th. Thirteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.52.

PayPal Stock Up 0.8 %

The company has a quick ratio of 1.25, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The business has a 50-day simple moving average of $86.18 and a 200-day simple moving average of $80.45. The stock has a market cap of $77.77 billion, a P/E ratio of 19.61, a PEG ratio of 1.29 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. The business had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. PayPal’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 EPS. Analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Hedge Funds Weigh In On PayPal

A number of institutional investors have recently made changes to their positions in PYPL. Mpwm Advisory Solutions LLC acquired a new stake in PayPal in the 4th quarter valued at approximately $25,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of PayPal in the third quarter worth $26,000. Rosenberg Matthew Hamilton increased its position in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 125 shares during the period. Hurley Capital LLC acquired a new position in PayPal during the 4th quarter valued at $27,000. Finally, Sugarloaf Wealth Management LLC boosted its holdings in PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 272 shares during the period. 68.32% of the stock is currently owned by institutional investors.

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.