PayPal (NASDAQ:PYPL) Stock Price Up 2.4% - What's Next?

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) shares rose 2.4% during trading on Thursday . The stock traded as high as $78.76 and last traded at $78.48. Approximately 3,922,915 shares were traded during trading, a decline of 64% from the average daily volume of 10,859,747 shares. The stock had previously closed at $76.66.

Analyst Ratings Changes

Several equities research analysts recently commented on PYPL shares. Bank of America dropped their price objective on PayPal from $103.00 to $93.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Wall Street Zen upgraded shares of PayPal from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Truist Financial started coverage on shares of PayPal in a research note on Monday, June 2nd. They issued a "sell" rating and a $68.00 price target for the company. UBS Group dropped their target price on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating on the stock in a 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 on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $83.13.

PayPal Stock Up 0.9%

The company has a market cap of $76.39 billion, a PE ratio of 17.57, a P/E/G ratio of 1.26 and a beta of 1.45. The company's 50 day moving average is $73.08 and its 200 day moving average is $73.00. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56.

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

Insider Transactions at PayPal

In related news, insider Suzan Kereere sold 4,162 shares of the business'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 transaction of $304,824.88. Following the completion of the transaction, the insider owned 48,483 shares in the company, valued at $3,550,894.92. The trade was a 7.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Diego Scotti sold 3,839 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $281,168.36. Following the transaction, the executive vice president directly owned 16,989 shares in the company, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,796 shares of company stock valued at $863,028. Corporate insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PYPL. Vanguard Group Inc. increased its holdings in shares of PayPal by 0.3% during the first quarter. Vanguard Group Inc. now owns 86,221,849 shares of the credit services provider's stock valued at $5,625,976,000 after acquiring an additional 276,339 shares in the last quarter. Geode Capital Management LLC increased its position in shares of PayPal by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider's stock valued at $1,849,884,000 after acquiring an additional 271,836 shares during the period. FMR LLC increased its position in shares of PayPal by 12.9% in the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock valued at $1,615,134,000 after acquiring an additional 2,161,582 shares during the period. Capital Research Global Investors increased its position in shares of PayPal by 108.2% in the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock valued at $1,529,823,000 after acquiring an additional 9,313,783 shares during the period. Finally, Norges Bank acquired a new position in shares of PayPal in the 4th quarter valued at $1,086,508,000. 68.32% of the stock is owned by institutional investors and hedge funds.

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.