PayPal (NASDAQ:PYPL) Trading Up 0.3% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL) rose 0.3% during trading on Wednesday . The company traded as high as $69.38 and last traded at $68.19. Approximately 3,104,581 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 12,172,038 shares. The stock had previously closed at $67.98.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of recent analyst reports. Barclays increased their target price on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler dropped their target price on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research report on Wednesday, February 26th. Robert W. Baird lowered their price objective on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $90.03.

PayPal Price Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The company’s 50 day moving average is $80.33 and its 200 day moving average is $80.90. The stock has a market cap of $67.13 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.27 and a beta of 1.52.

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

Insiders Place Their Bets

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PayPal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mpwm Advisory Solutions LLC purchased a new stake in shares of PayPal during the fourth quarter worth about $25,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of PayPal during the third quarter worth about $26,000. Rosenberg Matthew Hamilton grew its holdings in shares of 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 buying an additional 125 shares in the last quarter. Hurley Capital LLC purchased a new stake in shares of PayPal during the fourth quarter worth about $27,000. Finally, Sugarloaf Wealth Management LLC grew its holdings in shares of PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after buying an additional 272 shares in 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.