PayPal (NASDAQ:PYPL) Shares Up 0.9%

PayPal Holdings, Inc. (NASDAQ:PYPL) shares were up 0.9% on Tuesday . The stock traded as high as $66.46 and last traded at $66.17. Approximately 2,280,234 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 16,345,021 shares. The stock had previously closed at $65.61.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PYPL shares. Citigroup cut their price objective on shares of PayPal from $76.00 to $73.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Mizuho upped their price target on PayPal from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Tuesday, April 30th. Argus lowered shares of PayPal from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Robert W. Baird raised their target price on shares of PayPal from $70.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Twenty-five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal has a consensus rating of “Hold” and an average price target of $72.73.

PayPal Stock Performance

The stock has a market capitalization of $69.12 billion, a PE ratio of 16.67, a PEG ratio of 1.18 and a beta of 1.41. The business’s 50 day moving average is $63.82 and its 200 day moving average is $60.63. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter last year, the firm earned $0.86 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities research analysts predict that PayPal Holdings, Inc. will post 4.13 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the transaction, the senior vice president now owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. grew its holdings in PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 185 shares in the last quarter. Forsta AP Fonden boosted its stake in shares of PayPal by 8.0% during the first quarter. Forsta AP Fonden now owns 205,300 shares of the credit services provider’s stock valued at $13,753,000 after purchasing an additional 15,200 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. purchased a new position in PayPal during the first quarter valued at approximately $1,876,000. Gibraltar Capital Management Inc. raised its stake in PayPal by 29.0% in the first quarter. Gibraltar Capital Management Inc. now owns 123,374 shares of the credit services provider’s stock worth $8,265,000 after buying an additional 27,701 shares in the last quarter. Finally, Equity Investment Corp lifted its holdings in PayPal by 7.3% during the first quarter. Equity Investment Corp now owns 1,552,133 shares of the credit services provider’s stock worth $103,977,000 after buying an additional 105,188 shares during the period. 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.