PayPal (NASDAQ:PYPL) Stock Price Up 1.2% - Here's What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report)'s stock price was up 1.2% during trading on Wednesday . The company traded as high as $90.04 and last traded at $89.79. Approximately 1,544,493 shares traded hands during trading, a decline of 88% from the average daily volume of 13,087,957 shares. The stock had previously closed at $88.76.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PYPL shares. The Goldman Sachs Group upped their price target on shares of PayPal from $79.00 to $87.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. StockNews.com lowered shares of PayPal from a "buy" rating to a "hold" rating in a report on Friday, December 6th. Needham & Company LLC restated a "hold" rating on shares of PayPal in a report on Wednesday, October 30th. Macquarie upped their price objective on shares of PayPal from $90.00 to $95.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of PayPal from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have issued 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 "Moderate Buy" and a consensus price target of $85.70.

PayPal Stock Up 1.9 %

The company's 50 day moving average price is $82.90 and its two-hundred day moving average price is $71.58. 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 market cap of $90.70 billion, a P/E ratio of 21.43, a PEG ratio of 1.64 and a beta of 1.44.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings data 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. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion for the quarter, compared to analysts' expectations of $7.88 billion. During the same quarter in the prior year, the business earned $0.97 EPS. The business's quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd bought a new stake in PayPal during the 3rd quarter worth approximately $26,000. Family Firm Inc. bought a new stake in PayPal during the 2nd quarter worth approximately $29,000. SYSTM Wealth Solutions LLC raised its stake in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock worth $29,000 after acquiring an additional 167 shares during the period. Tortoise Investment Management LLC raised its position in shares of PayPal by 930.0% during the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider's stock valued at $30,000 after buying an additional 465 shares during the last quarter. Finally, Planning Capital Management Corp raised its position in shares of PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock valued at $32,000 after buying an additional 268 shares during the last quarter. 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.

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