PayPal (NASDAQ:PYPL) Shares Up 1.6% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price shot up 1.6% on Wednesday . The company traded as high as $88.33 and last traded at $88.25. 3,276,344 shares traded hands during trading, a decline of 75% from the average session volume of 12,964,972 shares. The stock had previously closed at $86.90.

Analysts Set New Price Targets

Several analysts have issued reports on PYPL shares. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday. Keefe, Bruyette & Woods boosted their target price on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Bank of America upgraded shares of PayPal from a “neutral” rating to a “buy” rating and raised their price target for the company from $86.00 to $103.00 in a report on Monday, December 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price objective on shares of PayPal in a research note on Thursday, December 12th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $88.00 price target on shares of PayPal in a report on Friday, November 22nd. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.42.

PayPal Price Performance

The firm has a market cap of $88.47 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s fifty day moving average price is $84.95 and its 200-day moving average price is $73.55.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the company earned $0.97 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts expect that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Hedge Funds Weigh In On PayPal

A number of hedge funds have recently modified their holdings of PYPL. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PayPal during the third quarter worth $26,000. SYSTM Wealth Solutions LLC lifted its holdings in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares in the last quarter. Tortoise Investment Management LLC grew its stake in shares of PayPal by 930.0% in the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 465 shares in the last quarter. Planning Capital Management Corp increased its position in shares of PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 268 shares during the period. Finally, Financial Management Professionals Inc. boosted its holdings in PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 243 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

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.