PayPal (NASDAQ:PYPL) Stock Price Up 2.4% – Here’s What Happened

by · The Markets Daily

PayPal Holdings, Inc. (NASDAQ:PYPL – Get Free Report) shares were up 2.4% on Friday . The stock traded as high as $68.47 and last traded at $68.50. Approximately 2,505,247 shares were traded during trading, a decline of 79% from the average daily volume of 12,108,700 shares. The stock had previously closed at $66.91.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Piper Sandler decreased their price target on PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. DZ Bank raised PayPal from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research report on Friday, February 28th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research report on Wednesday, February 26th. Barclays upped their price objective on shares of PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Morgan Stanley lifted their price objective on PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

Read Our Latest Report on PayPal

PayPal Price Performance

The stock has a market capitalization of $68.35 billion, a P/E ratio of 17.20, a PEG ratio of 1.27 and a beta of 1.52. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $80.33 and a two-hundred day simple moving average of $80.90.

PayPal (NASDAQ:PYPL – Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the firm posted $1.48 earnings per share. PayPal’s revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Buying and Selling

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by insiders.

Hedge Funds Weigh In On PayPal

Institutional investors and hedge funds have recently made changes to their positions in the company. Park Place Capital Corp grew its stake in PayPal by 6.6% in the fourth quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider’s stock valued at $161,000 after acquiring an additional 116 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 125 shares in the last quarter. JFS Wealth Advisors LLC grew its position in shares of PayPal by 33.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 502 shares of the credit services provider’s stock valued at $43,000 after purchasing an additional 125 shares during the period. Wynn Capital LLC increased its stake in PayPal by 1.1% during the 4th quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock worth $983,000 after purchasing an additional 130 shares in the last quarter. Finally, Avalon Trust Co raised its holdings in PayPal by 7.0% during the 4th quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider’s stock worth $176,000 after buying an additional 135 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

About PayPal

(Get Free Report)

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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