PayPal (NASDAQ:PYPL) Shares Up 0.6% – Here’s What Happened

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) were up 0.6% during mid-day trading on Wednesday . The company traded as high as $87.40 and last traded at $86.88. Approximately 2,299,760 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 13,487,888 shares. The stock had previously closed at $86.40.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of analyst reports. UBS Group lifted 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 target price on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. Sanford C. Bernstein downgraded shares of PayPal from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $75.00 to $80.00 in a research note on Thursday, October 10th. Finally, Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Fifteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and an average target price of $83.45.

PayPal Price Performance

The business has a 50-day simple moving average of $78.25 and a two-hundred day simple moving average of $68.76. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $86.01 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 1.56 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced 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. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the business posted $0.97 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, research analysts predict that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Planning Capital Management Corp boosted its holdings in shares of PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after buying an additional 268 shares during the period. Financial Management Professionals Inc. boosted its position in PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 243 shares during the period. Family Firm Inc. purchased a new position in PayPal during the 2nd quarter valued at about $29,000. SYSTM Wealth Solutions LLC increased its holdings 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. Finally, LRI Investments LLC purchased a new stake in shares of PayPal in the first quarter worth approximately $34,000. Institutional investors own 68.32% of the company’s stock.

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.