PayPal (NASDAQ:PYPL) Trading 1.2% Higher Following Analyst Upgrade

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) traded up 1.2% during mid-day trading on Monday after Barclays raised their price target on the stock from $80.00 to $90.00. Barclays currently has an overweight rating on the stock. PayPal traded as high as $76.23 and last traded at $75.06. 2,965,455 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 10,852,976 shares. The stock had previously closed at $74.17.

A number of other equities analysts also recently issued reports on the stock. Wall Street Zen raised shares of PayPal from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Arete Research set a $81.00 price objective on shares of PayPal in a report on Thursday, March 27th. Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a report on Wednesday, April 30th. Piper Sandler raised shares of PayPal to a "neutral" rating and set a $74.00 price objective on the stock in a report on Tuesday, June 24th. Finally, Evercore ISI began coverage on shares of PayPal in a research report on Wednesday, April 9th. They set an "in-line" rating and a $65.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $83.13.

Insider Buying and Selling

In other PayPal news, Director Deborah M. Messemer sold 3,795 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the sale, the director directly owned 13,976 shares in the company, valued at $1,020,248. The trade was a 21.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Diego Scotti sold 3,839 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $281,168.36. Following the sale, the executive vice president owned 16,989 shares of the company's stock, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PayPal

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kennebec Savings Bank raised its stake in PayPal by 7.8% during the 2nd quarter. Kennebec Savings Bank now owns 9,412 shares of the credit services provider's stock worth $700,000 after acquiring an additional 679 shares during the period. Philip James Wealth Mangement LLC lifted its holdings in PayPal by 3.1% in the 2nd quarter. Philip James Wealth Mangement LLC now owns 32,261 shares of the credit services provider's stock worth $2,398,000 after purchasing an additional 978 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of PayPal by 15.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 5,726,695 shares of the credit services provider's stock worth $425,608,000 after acquiring an additional 756,058 shares in the last quarter. New Wave Wealth Advisors LLC raised its holdings in shares of PayPal by 17.0% during the 2nd quarter. New Wave Wealth Advisors LLC now owns 4,360 shares of the credit services provider's stock worth $324,000 after acquiring an additional 635 shares in the last quarter. Finally, Newman Dignan & Sheerar Inc. raised its holdings in shares of PayPal by 23.2% during the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 6,560 shares of the credit services provider's stock worth $488,000 after acquiring an additional 1,235 shares in the last quarter. Institutional investors own 68.32% of the company's stock.

PayPal Stock Up 1.2%

The firm has a market capitalization of $72.98 billion, a PE ratio of 16.79, a PEG ratio of 1.22 and a beta of 1.45. The company has a fifty day moving average price of $72.75 and a 200-day moving average price of $73.13. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.17. The company had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. PayPal's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS. As a group, analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

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.

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