PayPal (NASDAQ:PYPL) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

PayPal (NASDAQ:PYPL) posted its quarterly earnings results on Tuesday. The credit services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12, Briefing.com reports. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the prior year, the business earned $0.97 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. PayPal updated its FY 2024 guidance to 3.920-3.960 EPS and its Q4 2024 guidance to 1.030-1.070 EPS.

PayPal Stock Performance

PayPal stock opened at $77.50 on Friday. PayPal has a 1-year low of $52.55 and a 1-year high of $83.70. The firm has a market cap of $77.70 billion, a P/E ratio of 18.93, a P/E/G ratio of 1.40 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average of $76.39 and a 200-day moving average of $67.56.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $78.00 price target on shares of PayPal in a research report on Wednesday, September 18th. Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. StockNews.com lowered shares of PayPal from a “buy” rating to a “hold” rating in a report on Saturday, October 26th. Finally, Stephens boosted their price objective on shares of PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Seventeen research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued 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 $82.03.

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.