PayPal (NASDAQ:PYPL) Trading 0.9% Higher – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL) shares were up 0.9% on Friday . The company traded as high as $87.55 and last traded at $86.98. Approximately 1,357,752 shares traded hands during trading, a decline of 63% from the average daily volume of 3,685,792 shares. The stock had previously closed at $86.18.

Analyst Upgrades and Downgrades

PYPL has been the subject of a number of recent research reports. UBS Group increased their price objective on shares of PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their price target on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their price objective on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Susquehanna raised their target price on PayPal from $83.00 to $94.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.42.

PayPal Stock Performance

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a market cap of $87.60 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 1.66 and a beta of 1.44. The stock has a 50 day moving average price of $85.76 and a two-hundred day moving average price of $74.53.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm 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 company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 earnings per share. Analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently bought and sold shares of the company. Bruce G. Allen Investments LLC raised its stake in PayPal by 7.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after buying an additional 124 shares during the period. First United Bank & Trust increased its holdings in shares of PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after acquiring an additional 145 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of PayPal by 3.3% during the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after purchasing an additional 152 shares during the period. Laraway Financial Advisors Inc lifted its holdings in shares of PayPal by 3.8% during the 3rd quarter. Laraway Financial Advisors Inc now owns 4,228 shares of the credit services provider’s stock valued at $330,000 after purchasing an additional 154 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC grew its position in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.