PayPal (NASDAQ:PYPL) Sees Large Volume Increase Following Earnings Beat

PayPal Holdings, Inc. (NASDAQ:PYPL) shares saw unusually-high trading volume on Tuesday following a better than expected earnings announcement. Approximately 5,799,903 shares changed hands during trading, a decline of 49% from the previous session’s volume of 11,439,866 shares.The stock last traded at $64.74 and had previously closed at $64.93.

The credit services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.17. PayPal had a return on equity of 23.67% and a net margin of 13.04%. During the same quarter in the previous year, the business posted $1.08 EPS. The business’s revenue was up 1.2% on a year-over-year basis.

Analyst Ratings Changes

A number of research firms have recently commented on PYPL. Seaport Res Ptn cut shares of PayPal from a “hold” rating to a “strong sell” rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods reduced their target price on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, March 31st. Monness Crespi & Hardt cut their price objective on PayPal from $120.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Susquehanna increased their target price on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research report on Monday, January 6th. Finally, Morgan Stanley raised their target price on shares of PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and an average price target of $85.88.

Insider Buying and Selling at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently bought and sold shares of the stock. Park Place Capital Corp raised its holdings in PayPal by 6.6% in the 4th quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider’s stock worth $161,000 after purchasing an additional 116 shares during the period. Rosenberg Matthew Hamilton lifted its position in shares of PayPal by 67.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 125 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in PayPal by 33.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 502 shares of the credit services provider’s stock valued at $43,000 after purchasing an additional 125 shares in the last quarter. Wynn Capital LLC boosted its stake in PayPal by 1.1% during the 4th quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock worth $983,000 after purchasing an additional 130 shares during the last quarter. Finally, Avalon Trust Co lifted its stake in shares of PayPal by 7.0% in the fourth quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider’s stock worth $176,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Trading Up 0.2 %

The firm has a market capitalization of $63.59 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 1.27 and a beta of 1.60. The company has a fifty day moving average price of $66.49 and a two-hundred day moving average price of $78.47. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.

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.