PayPal (NASDAQ:PYPL) Releases Q2 2024 Earnings Guidance

PayPal (NASDAQ:PYPL) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.830-0.830 for the period, compared to the consensus estimate of 1.130. The company issued revenue guidance of $7.8 billion-$7.8 billion, compared to the consensus revenue estimate of $7.3 billion. PayPal also updated its FY 2024 guidance to 3.650-3.650 EPS.

PayPal Stock Performance

Shares of PYPL stock traded down $1.28 during mid-day trading on Friday, hitting $65.70. 15,421,815 shares of the stock were exchanged, compared to its average volume of 16,569,914. The stock has a market capitalization of $68.73 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 1.22 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.29 and a current ratio of 1.28. PayPal has a 12-month low of $50.25 and a 12-month high of $76.54. The stock’s fifty day simple moving average is $63.56 and its two-hundred day simple moving average is $60.44.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 earnings per share. On average, analysts forecast that PayPal will post 4.03 EPS for the current year.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of recent research reports. Canaccord Genuity Group reduced their target price on shares of PayPal from $100.00 to $80.00 and set a buy rating on the stock in a report on Thursday, February 8th. Susquehanna increased their target price on shares of PayPal from $61.00 to $65.00 and gave the company a neutral rating in a research report on Wednesday, January 24th. BTIG Research reiterated a neutral rating on shares of PayPal in a report on Friday, January 5th. Royal Bank of Canada raised their price objective on shares of PayPal from $74.00 to $84.00 and gave the stock an outperform rating in a research note on Wednesday. Finally, Sanford C. Bernstein increased their target price on PayPal from $66.00 to $68.00 and gave the company a market perform rating in a report on Thursday, April 18th. Twenty-five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $72.73.

Insider Buying and Selling at PayPal

In other PayPal news, SVP Frank Keller sold 7,686 shares of the 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 completion of the sale, the senior vice president now owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.