PayPal (NASDAQ:PYPL) Trading Up 1.6% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price was up 1.6% during mid-day trading on Monday . The stock traded as high as $88.74 and last traded at $88.13. Approximately 2,471,181 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 13,316,860 shares. The stock had previously closed at $86.77.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PYPL shares. Susquehanna raised their price target on PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. BMO Capital Markets raised their target price on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a report on Sunday, November 3rd. Finally, Barclays raised their target price on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Sixteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Price Performance

The stock has a market cap of $86.79 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43. The company has a 50-day simple moving average of $81.04 and a two-hundred day simple moving average of $70.06. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping 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 business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.97 EPS. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its stake in shares of PayPal by 120.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider’s stock worth $125,461,000 after acquiring an additional 849,311 shares during the period. Peapack Gladstone Financial Corp boosted its stake in shares of PayPal by 1.1% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 228,209 shares of the credit services provider’s stock worth $17,807,000 after acquiring an additional 2,576 shares during the period. Synovus Financial Corp boosted its stake in shares of PayPal by 33.7% during the 3rd quarter. Synovus Financial Corp now owns 64,693 shares of the credit services provider’s stock worth $5,048,000 after acquiring an additional 16,306 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in shares of PayPal by 196.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,221 shares of the credit services provider’s stock worth $798,000 after acquiring an additional 6,772 shares during the period. Finally, Sfmg LLC bought a new position in shares of PayPal during the 3rd quarter worth approximately $234,000. 68.32% of the stock is currently owned by institutional investors.

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.