PayPal (NASDAQ:PYPL) Stock Price Up 1.2% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL) was up 1.2% during mid-day trading on Wednesday . The company traded as high as $90.04 and last traded at $89.79. Approximately 1,544,493 shares were traded during trading, a decline of 88% from the average daily volume of 13,087,957 shares. The stock had previously closed at $88.76.

Analyst Upgrades and Downgrades

PYPL has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Barclays boosted their price objective on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of PayPal in a report on Thursday. Robert W. Baird boosted their price target on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Oppenheimer initiated coverage on PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Sixteen analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.74.

PayPal Stock Performance

The stock has a fifty day simple moving average of $83.64 and a two-hundred day simple moving average of $72.03. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $91.25 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 1.66 and a beta of 1.44.

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

Institutional Trading of PayPal

Hedge funds have recently added to or reduced their stakes in the stock. 1ST Source Bank lifted its stake in shares of PayPal by 2.5% in the 3rd quarter. 1ST Source Bank now owns 15,975 shares of the credit services provider’s stock valued at $1,247,000 after acquiring an additional 391 shares during the last quarter. Copley Financial Group Inc. bought a new position in PayPal in the third quarter valued at about $249,000. Franklin Resources Inc. boosted its stake in shares of PayPal by 120.3% during the third quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider’s stock valued at $125,461,000 after purchasing an additional 849,311 shares in the last quarter. Peapack Gladstone Financial Corp grew its holdings in shares of PayPal by 1.1% during the third quarter. Peapack Gladstone Financial Corp now owns 228,209 shares of the credit services provider’s stock worth $17,807,000 after purchasing an additional 2,576 shares during the last quarter. Finally, Synovus Financial Corp increased its stake in shares of PayPal by 33.7% in the third quarter. Synovus Financial Corp now owns 64,693 shares of the credit services provider’s stock valued at $5,048,000 after buying an additional 16,306 shares during the period. 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.