PayPal (NASDAQ:PYPL) Trading Up 1.9%

PayPal Holdings, Inc. (NASDAQ:PYPL) was up 1.9% during trading on Tuesday . The stock traded as high as $61.62 and last traded at $61.61. Approximately 2,384,065 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 14,578,935 shares. The stock had previously closed at $60.47.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PYPL shares. Monness Crespi & Hardt raised their price objective on PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Susquehanna raised PayPal from a “neutral” rating to a “positive” rating and set a $71.00 price objective on the stock in a research note on Tuesday, July 2nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $69.00 price objective on shares of PayPal in a research note on Monday, June 24th. BMO Capital Markets raised their price objective on PayPal from $64.00 to $65.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company raised their price objective on PayPal from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Twenty-one analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, PayPal presently has a consensus rating of “Hold” and a consensus price target of $73.82.

PayPal Stock Performance

The stock has a fifty day moving average price of $61.68 and a two-hundred day moving average price of $62.22. The company has a market cap of $62.76 billion, a P/E ratio of 15.40, a PEG ratio of 1.01 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same period in the previous year, the firm earned $0.86 EPS. PayPal’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts forecast that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of PayPal stock in a transaction on Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the completion of the sale, the director now owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On PayPal

Several institutional investors and hedge funds have recently modified their holdings of the business. Miracle Mile Advisors LLC lifted its stake in shares of PayPal by 3.7% in the 2nd quarter. Miracle Mile Advisors LLC now owns 11,787 shares of the credit services provider’s stock valued at $684,000 after purchasing an additional 426 shares during the last quarter. Wilsey Asset Management Inc. lifted its position in PayPal by 4.9% during the 2nd quarter. Wilsey Asset Management Inc. now owns 357,601 shares of the credit services provider’s stock worth $20,752,000 after acquiring an additional 16,800 shares during the last quarter. Swedbank AB lifted its position in PayPal by 0.3% during the 2nd quarter. Swedbank AB now owns 633,223 shares of the credit services provider’s stock worth $36,746,000 after acquiring an additional 1,825 shares during the last quarter. Red Door Wealth Management LLC lifted its position in PayPal by 13.2% during the 2nd quarter. Red Door Wealth Management LLC now owns 41,493 shares of the credit services provider’s stock worth $2,408,000 after acquiring an additional 4,844 shares during the last quarter. Finally, Mayar Capital Ltd. lifted its position in PayPal by 0.3% during the 2nd quarter. Mayar Capital Ltd. now owns 167,582 shares of the credit services provider’s stock worth $9,725,000 after acquiring an additional 484 shares during the last quarter. Institutional investors and hedge funds 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.