PayPal (NASDAQ:PYPL) Stock Price Up 0.1% – Here’s What Happened

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) rose 0.1% during trading on Wednesday . The stock traded as high as $82.00 and last traded at $81.25. Approximately 1,861,873 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 13,856,490 shares. The stock had previously closed at $81.16.

Analyst Ratings Changes

PYPL has been the subject of several analyst reports. BMO Capital Markets increased their target price on shares of PayPal from $72.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Mizuho restated an “outperform” rating and set a $90.00 price objective on shares of PayPal in a report on Tuesday, August 20th. TD Cowen raised their price objective on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Macquarie raised their price objective on shares of PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on shares of PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Seventeen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.47.

PayPal Trading Up 0.4 %

The firm has a market capitalization of $81.07 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $72.05 and its 200-day simple moving average is $66.02.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. The firm had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $0.83 earnings per share. Analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PYPL. C M Bidwell & Associates Ltd. purchased a new position in shares of PayPal in the fourth quarter worth $94,000. Blue Grotto Capital LLC increased its stake in shares of PayPal by 7.3% in the fourth quarter. Blue Grotto Capital LLC now owns 430,255 shares of the credit services provider’s stock worth $26,422,000 after buying an additional 29,276 shares during the period. Bartlett & CO. Wealth Management LLC increased its position in PayPal by 8.5% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 9,414 shares of the credit services provider’s stock valued at $594,000 after purchasing an additional 740 shares during the period. Greenvale Capital LLP increased its position in PayPal by 54.5% during the 4th quarter. Greenvale Capital LLP now owns 1,700,000 shares of the credit services provider’s stock valued at $104,397,000 after purchasing an additional 600,000 shares during the period. Finally, Gotham Asset Management LLC increased its position in PayPal by 953.6% during the 4th quarter. Gotham Asset Management LLC now owns 335,460 shares of the credit services provider’s stock valued at $20,601,000 after purchasing an additional 303,622 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.