PayPal (NASDAQ:PYPL) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

PayPal (NASDAQ:PYPL) announced its quarterly earnings data on Tuesday. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12, Briefing.com reports. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the firm posted $0.97 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. PayPal updated its FY 2024 guidance to 3.920-3.960 EPS and its Q4 2024 guidance to 1.030-1.070 EPS.

PayPal Stock Performance

PYPL stock opened at $79.07 on Thursday. The firm has a market cap of $82.71 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $76.24 and a 200-day moving average price of $67.48. PayPal has a 1-year low of $50.80 and a 1-year high of $83.70.

Wall Street Analysts Forecast Growth

PYPL has been the topic of several recent analyst reports. Barclays lifted their price target on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. BMO Capital Markets boosted their target price on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 price target on shares of PayPal in a report on Wednesday, September 18th. Finally, Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Seventeen analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and an average price target of $82.03.

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.