PayPal (NASDAQ:PYPL) Shares Up 0.7% - Here's Why

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report)'s stock price was up 0.7% during trading on Wednesday . The company traded as high as $73.14 and last traded at $73.15. Approximately 1,988,693 shares changed hands during trading, a decline of 82% from the average daily volume of 11,221,222 shares. The stock had previously closed at $72.61.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Evercore ISI initiated coverage on shares of PayPal in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 price target on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of PayPal from $104.00 to $85.00 and set an "outperform" rating for the company in a research note on Monday, March 31st. Morgan Stanley upped their price target on shares of PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Seaport Res Ptn cut shares of PayPal from a "hold" rating to a "strong sell" rating in a report on Thursday, April 17th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $96.00 price objective on shares of PayPal in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $83.68.

PayPal Stock Down 0.6%

The firm's 50-day simple moving average is $66.17 and its 200 day simple moving average is $77.31. The company has a market cap of $70.19 billion, a P/E ratio of 18.08, a PEG ratio of 1.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.17. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.84 billion. During the same quarter in the previous year, the business earned $1.08 EPS. The firm's revenue was up 1.2% on a year-over-year basis. On average, research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, the director now owns 29,734 shares of the company's stock, valued at $2,145,308.10. The trade was a 7.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On PayPal

Several hedge funds and other institutional investors have recently made changes to their positions in PYPL. McAdam LLC bought a new position in shares of PayPal during the 1st quarter valued at approximately $227,000. Integrity Alliance LLC. bought a new position in shares of PayPal during the 1st quarter valued at approximately $1,704,000. Glenview Trust co lifted its stake in shares of PayPal by 16.3% during the 1st quarter. Glenview Trust co now owns 202,409 shares of the credit services provider's stock valued at $13,207,000 after buying an additional 28,432 shares in the last quarter. Security National Bank of Sioux City Iowa IA lifted its stake in shares of PayPal by 10.6% during the 1st quarter. Security National Bank of Sioux City Iowa IA now owns 19,602 shares of the credit services provider's stock valued at $1,279,000 after buying an additional 1,883 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its stake in shares of PayPal by 194.3% during the 1st quarter. Bayforest Capital Ltd now owns 4,823 shares of the credit services provider's stock valued at $315,000 after buying an additional 3,184 shares in the last quarter. 68.32% of the stock is 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.

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