PayPal (NASDAQ:PYPL) Trading 1.7% Higher - Time to Buy?

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) shares were up 1.7% during mid-day trading on Tuesday . The stock traded as high as $74.59 and last traded at $74.81. Approximately 1,903,489 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 11,038,484 shares. The stock had previously closed at $73.55.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PYPL. Wall Street Zen raised PayPal from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Monness Crespi & Hardt reduced their price target on shares of PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Citigroup lowered their price objective on shares of PayPal from $98.00 to $95.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Royal Bank of Canada cut their target price on shares of PayPal from $104.00 to $88.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company dropped their target price on shares of PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PayPal currently has an average rating of "Hold" and a consensus target price of $83.29.

PayPal Stock Down 5.3%

The stock has a 50-day moving average of $67.88 and a 200-day moving average of $75.93. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market cap of $68.88 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 1.27 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 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 firm had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. During the same period last year, the firm earned $1.08 EPS. The business's quarterly revenue was up 1.2% compared to the same quarter last year. Sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Activity at PayPal

In related news, insider Suzan Kereere sold 4,162 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the completion of the transaction, the insider now owns 48,483 shares in the company, valued at $3,550,894.92. This trade represents a 7.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deborah M. Messemer sold 3,795 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.00, for a total value of $277,035.00. Following the completion of the transaction, the director now directly owns 13,976 shares in the company, valued at approximately $1,020,248. This represents a 21.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,796 shares of company stock valued at $863,028 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PayPal

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cim LLC grew its holdings in PayPal by 0.3% in the first quarter. Cim LLC now owns 99,062 shares of the credit services provider's stock worth $6,464,000 after purchasing an additional 253 shares during the period. Modern Wealth Management LLC increased its position in PayPal by 61.1% in the 1st quarter. Modern Wealth Management LLC now owns 5,091 shares of the credit services provider's stock valued at $332,000 after buying an additional 1,930 shares in the last quarter. Anderson Financial Strategies LLC acquired a new position in PayPal during the 1st quarter worth approximately $76,000. Strs Ohio bought a new position in PayPal in the first quarter worth approximately $21,140,000. Finally, GK Wealth Management LLC acquired a new stake in PayPal in the first quarter valued at approximately $240,000. 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.