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

PayPal Holdings, Inc. (NASDAQ:PYPL) shot up 1.6% on Monday . The company traded as high as $88.74 and last traded at $88.13. 2,471,181 shares were traded during mid-day trading, a decline of 81% from the average session volume of 13,316,860 shares. The stock had previously closed at $86.77.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a report on Wednesday, October 30th. Jefferies Financial Group reduced their target price on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Wells Fargo & Company raised their price target on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Robert W. Baird upped their price objective on shares of PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, UBS Group lifted their target price on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Sixteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Stock Up 1.2 %

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm has a market cap of $87.99 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43. The stock’s fifty day moving average is $80.41 and its two-hundred day moving average is $69.72.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data 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 company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter last year, the business posted $0.97 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. As a group, research analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Hedge Funds Weigh In On PayPal

A number of institutional investors have recently made changes to their positions in PYPL. Mizuho Securities USA LLC raised its holdings in shares of PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after buying an additional 10,419,351 shares in the last quarter. FMR LLC raised its stake in shares of PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of PayPal in the 3rd quarter worth approximately $387,435,000. Primecap Management Co. CA boosted its stake in shares of PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after purchasing an additional 3,184,160 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares during the last quarter. Institutional investors 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.