PayPal (NASDAQ:PYPL) Trading Up 0.4% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price rose 0.4% during mid-day trading on Monday . The stock traded as high as $61.48 and last traded at $58.63. Approximately 6,873,113 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 11,302,150 shares. The stock had previously closed at $58.37.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Sunday. Morgan Stanley boosted their price objective on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $86.00 to $103.00 in a research report on Monday, December 9th. Piper Sandler reduced their price target on PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $100.00 price objective on shares of PayPal in a research note on Thursday, December 12th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, PayPal has an average rating of “Moderate Buy” and a consensus target price of $89.13.

PayPal Stock Performance

The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $57.90 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 1.27 and a beta of 1.60. The company has a 50-day moving average price of $73.01 and a 200-day moving average price of $80.50.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the prior year, the business posted $1.48 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Insider Buying and Selling at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now directly owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PYPL. Relyea Zuckerberg Hanson LLC raised its position in PayPal by 113.8% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after acquiring an additional 3,976 shares in the last quarter. Nikko Asset Management Americas Inc. raised its holdings in shares of PayPal by 2.7% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider’s stock worth $59,489,000 after purchasing an additional 18,172 shares in the last quarter. ExodusPoint Capital Management LP raised its holdings in shares of PayPal by 223.1% in the 4th quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider’s stock worth $22,622,000 after purchasing an additional 183,011 shares in the last quarter. StoneX Group Inc. lifted its stake in PayPal by 70.4% during the fourth quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider’s stock valued at $2,326,000 after purchasing an additional 11,260 shares during the last quarter. Finally, Fortem Financial Group LLC grew its position in PayPal by 28.0% in the fourth quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock worth $2,842,000 after buying an additional 7,291 shares during the last quarter. Institutional investors 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.