PayPal (NASDAQ:PYPL) Trading 3.3% Higher – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price traded up 3.3% during mid-day trading on Monday . The company traded as high as $93.25 and last traded at $91.81. 16,468,435 shares changed hands during trading, an increase of 151% from the average session volume of 6,562,702 shares. The stock had previously closed at $88.92.

Analysts Set New Price Targets

A number of analysts have commented on PYPL shares. Sanford C. Bernstein lowered shares of PayPal from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $75.00 to $80.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped their price target on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Susquehanna boosted their target price on shares of PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research note on Monday, January 6th. BMO Capital Markets increased their target price on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price target on PayPal from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.32.

PayPal Price 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 stock has a fifty day simple moving average of $87.40 and a 200-day simple moving average of $76.97. The stock has a market cap of $92.04 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44.

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, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $0.97 earnings per share. As a group, equities research analysts expect that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently made changes to their positions in PYPL. Rosenberg Matthew Hamilton raised its holdings in PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 125 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in shares of PayPal in the third quarter valued at $26,000. Sugarloaf Wealth Management LLC lifted its position in PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares during the period. Planning Capital Management Corp boosted its stake in PayPal by 186.1% during 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 in the last quarter. Finally, Financial Management Professionals Inc. increased its holdings in PayPal by 125.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after buying an additional 243 shares during the period. Institutional investors 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.