PayPal (NASDAQ:PYPL) Shares Up 1.7% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL) shares rose 1.7% on Friday . The company traded as high as $66.89 and last traded at $66.54. Approximately 2,658,629 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 11,259,748 shares. The stock had previously closed at $65.41.

Wall Street Analyst Weigh In

A number of research firms have commented on PYPL. Canaccord Genuity Group reaffirmed a “buy” rating and set a $96.00 price objective on shares of PayPal in a research note on Wednesday. DZ Bank raised shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Friday, February 28th. Robert W. Baird boosted their target price on shares of PayPal from $78.00 to $79.00 and gave the company an “outperform” rating in a research note on Wednesday. BTIG Research restated a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Finally, Barclays lowered their price target on PayPal from $110.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.77.

PayPal Stock Performance

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 stock has a market capitalization of $65.39 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51. The stock’s 50 day moving average is $65.75 and its two-hundred day moving average is $78.10.

PayPal (NASDAQ:PYPL) last announced its earnings results 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 net margin of 13.04% and a return on equity of 23.67%. The business had revenue of $7.79 billion during the quarter, compared to analysts’ expectations of $7.84 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. Analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Transactions at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Mpwm Advisory Solutions LLC acquired a new position in PayPal during the fourth quarter worth approximately $25,000. Rosenberg Matthew Hamilton boosted its stake 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 worth $26,000 after acquiring an additional 125 shares during the period. Hurley Capital LLC acquired a new position in shares of PayPal during the 4th quarter worth approximately $27,000. Garde Capital Inc. bought a new stake in PayPal in the 1st quarter valued at $28,000. Finally, Tsfg LLC lifted its holdings in PayPal by 81.6% during the 1st quarter. Tsfg LLC now owns 445 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. 68.32% of the stock is currently 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.