PayPal (NASDAQ:PYPL) Trading 1.3% Higher – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price was up 1.3% during mid-day trading on Thursday . The company traded as high as $61.32 and last traded at $61.02. Approximately 3,458,799 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 11,438,123 shares. The stock had previously closed at $60.24.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PYPL. Citigroup reaffirmed an “outperform” rating on shares of PayPal in a research report on Wednesday, February 5th. Morgan Stanley raised their price objective on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Piper Sandler dropped their target price on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, March 31st. Sixteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average price target of $86.84.

PayPal Stock Up 1.6 %

The stock’s 50 day moving average price is $68.87 and its 200-day moving average price is $79.40. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market cap of $60.54 billion, a PE ratio of 15.26, a PEG ratio of 1.27 and a beta of 1.60.

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

Insider Activity at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was 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 $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On PayPal

Large investors have recently modified their holdings of the stock. Anchor Investment Management LLC grew its stake in PayPal by 9.9% in the third quarter. Anchor Investment Management LLC now owns 35,219 shares of the credit services provider’s stock worth $2,748,000 after purchasing an additional 3,175 shares during the period. Boyar Asset Management Inc. purchased a new position in PayPal during the 3rd quarter valued at about $208,000. World Investment Advisors LLC purchased a new stake in PayPal in the third quarter worth about $5,296,000. Sfmg LLC purchased a new position in shares of PayPal during the third quarter valued at approximately $234,000. Finally, Wilmington Savings Fund Society FSB boosted its position in shares of PayPal by 196.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,221 shares of the credit services provider’s stock worth $798,000 after purchasing an additional 6,772 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

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.