Shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Get Free Report) shot up 2.5% on Thursday . The company traded as high as $79.85 and last traded at $79.31. 4,207,126 shares changed hands during trading, a decline of 70% from the average session volume of 14,069,375 shares. The stock had previously closed at $77.36.
Analysts Set New Price Targets
A number of equities analysts recently commented on PYPL shares. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Macquarie increased their price objective on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. Barclays upped their price target on PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $84.00 price objective on shares of PayPal in a research report on Wednesday, July 31st. Seventeen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $76.16.
PayPal Price Performance
The company has a 50-day moving average of $68.00 and a 200-day moving average of $64.82. The stock has a market capitalization of $81.50 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 1.11 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24.
PayPal (NASDAQ:PYPL – Get Free Report) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the previous year, the company posted $0.83 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.
Institutional Investors Weigh In On PayPal
Several hedge funds have recently modified their holdings of PYPL. Gryphon Financial Partners LLC raised its holdings in shares of PayPal by 36.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 9,659 shares of the credit services provider’s stock worth $593,000 after purchasing an additional 2,569 shares during the period. SageView Advisory Group LLC acquired a new position in PayPal during the fourth quarter valued at approximately $294,000. Mitchell Sinkler & Starr PA acquired a new position in PayPal during the fourth quarter valued at approximately $244,000. TD Asset Management Inc grew its stake in PayPal by 36.2% during the fourth quarter. TD Asset Management Inc now owns 649,999 shares of the credit services provider’s stock worth $39,916,000 after buying an additional 172,786 shares during the period. Finally, Focus Financial Network Inc. ADV acquired a new stake in shares of PayPal in the fourth quarter worth $1,089,000. 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.