PayPal (NASDAQ:PYPL) Updates FY 2024 Earnings Guidance

PayPal (NASDAQ:PYPL) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 3.650-3.650 for the period, compared to the consensus earnings per share estimate of 4.750. The company issued revenue guidance of -. PayPal also updated its Q2 2024 guidance to 0.830-0.830 EPS.

PayPal Trading Up 1.1 %

Shares of PYPL traded up $0.75 during mid-day trading on Tuesday, reaching $67.74. The stock had a trading volume of 31,659,576 shares, compared to its average volume of 16,433,574. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29. PayPal has a 52-week low of $50.25 and a 52-week high of $76.54. The business’s fifty day moving average is $63.03 and its 200 day moving average is $60.27. The firm has a market cap of $71.31 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 1.23 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 20.84%. The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. During the same period in the prior year, the company posted $0.86 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts predict that PayPal will post 4.02 EPS for the current fiscal year.

Analysts Set New Price Targets

PYPL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of PayPal from $75.00 to $70.00 and set an overweight rating on the stock in a research report on Thursday, February 8th. UBS Group upped their target price on shares of PayPal from $56.00 to $63.00 and gave the company a neutral rating in a research report on Friday, March 1st. Evercore ISI upped their target price on shares of PayPal from $56.00 to $60.00 and gave the company an in-line rating in a research report on Tuesday, March 26th. Royal Bank of Canada reaffirmed an outperform rating and issued a $74.00 target price on shares of PayPal in a research report on Thursday, March 21st. Finally, JMP Securities upped their target price on shares of PayPal from $68.00 to $70.00 and gave the company a market outperform rating in a research report on Wednesday, April 17th. Twenty-four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, PayPal currently has a consensus rating of Hold and a consensus target price of $70.72.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.14% 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.