PayPal (NASDAQ:PYPL) Updates FY 2024 Earnings Guidance

PayPal (NASDAQ:PYPL) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 3.920-3.960 for the period, compared to the consensus estimate of 4.460. The company issued revenue guidance of -. PayPal also updated its Q4 2024 guidance to 1.030-1.070 EPS.

PayPal Price Performance

PYPL traded down $2.73 on Tuesday, hitting $80.86. 21,273,590 shares of the company’s stock were exchanged, compared to its average volume of 13,569,427. PayPal has a fifty-two week low of $50.58 and a fifty-two week high of $83.70. The stock has a market cap of $84.58 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 1.51 and a beta of 1.44. The firm has a 50-day moving average price of $75.94 and a 200-day moving average price of $67.30. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. PayPal’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.97 EPS. As a group, equities analysts anticipate that PayPal will post 4.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Monness Crespi & Hardt raised their price objective on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company raised their price target 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. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 price objective on shares of PayPal in a report on Wednesday, July 31st. Sanford C. Bernstein cut PayPal from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Seventeen research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $78.77.

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.