PayPal (NASDAQ:PYPL) Shares Up 1.1% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL) shot up 1.1% on Friday . The company traded as high as $86.09 and last traded at $85.74. 1,050,336 shares were traded during mid-day trading, a decline of 92% from the average session volume of 13,339,372 shares. The stock had previously closed at $84.82.

Analyst Ratings Changes

Several equities analysts recently issued reports on PYPL shares. Jefferies Financial Group reduced their price objective on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Phillip Securities reaffirmed an “accumulate” rating and set a $90.00 price objective (up previously from $80.00) on shares of PayPal in a research report on Friday, November 1st. Barclays raised their target price on shares of PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and upped their target price for the company from $68.00 to $72.00 in a report on Friday, August 9th. Finally, William Blair upgraded PayPal to a “hold” rating in a research report on Tuesday, July 30th. Sixteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average target price of $83.60.

PayPal Stock Performance

The company’s 50-day moving average price is $80.41 and its two-hundred day moving average price is $69.68. The company has a market cap of $86.99 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49.

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

Hedge Funds Weigh In On PayPal

A number of hedge funds and other institutional investors have recently modified their holdings of PYPL. Bruce G. Allen Investments LLC boosted its holdings in shares of PayPal by 7.4% in the third quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after buying an additional 124 shares during the period. First United Bank & Trust boosted its stake in PayPal by 6.4% in the 3rd quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after purchasing an additional 145 shares during the period. Ritholtz Wealth Management grew its position in PayPal by 3.3% during the 3rd quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after purchasing an additional 152 shares in the last quarter. Laraway Financial Advisors Inc raised its stake in PayPal by 3.8% during the 3rd quarter. Laraway Financial Advisors Inc now owns 4,228 shares of the credit services provider’s stock valued at $330,000 after purchasing an additional 154 shares during the period. Finally, SYSTM Wealth Solutions LLC lifted its holdings in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.