PayPal (NASDAQ:PYPL) Shares Up 1.6%

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) traded up 1.6% during trading on Tuesday . The stock traded as high as $64.40 and last traded at $64.22. 2,308,832 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 16,306,054 shares. The stock had previously closed at $63.19.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Argus downgraded shares of PayPal from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. BMO Capital Markets decreased their target price on shares of PayPal from $65.00 to $60.00 and set a “market perform” rating for the company in a research report on Thursday, February 8th. Stephens restated an “equal weight” rating and issued a $70.00 price objective on shares of PayPal in a research note on Thursday, February 8th. Evercore ISI boosted their price objective on shares of PayPal from $56.00 to $60.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $74.00 price objective on shares of PayPal in a research note on Thursday, March 21st. Twenty-three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $70.47.

PayPal Price Performance

The company has a fifty day moving average of $62.40 and a 200 day moving average of $60.00. The firm has a market capitalization of $67.81 billion, a P/E ratio of 16.72, a PEG ratio of 1.38 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29.

PayPal (NASDAQ:PYPL) last announced its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, beating the consensus estimate of $1.36 by $0.12. The business had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.04 earnings per share for the current year.

Insiders Place Their Bets

In other PayPal news, SVP Frank Keller sold 7,686 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now directly owns 23,430 shares in the company, valued at approximately $1,420,795.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On PayPal

A number of institutional investors have recently modified their holdings of the company. Hartford Financial Management Inc. raised its position in PayPal by 18.8% in the 4th quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock valued at $63,000 after buying an additional 163 shares during the last quarter. Pine Haven Investment Counsel Inc raised its position in PayPal by 3.7% in the 4th quarter. Pine Haven Investment Counsel Inc now owns 4,705 shares of the credit services provider’s stock valued at $289,000 after buying an additional 170 shares during the last quarter. Brooks Moore & Associates Inc. raised its position in PayPal by 1.3% in the 3rd quarter. Brooks Moore & Associates Inc. now owns 14,391 shares of the credit services provider’s stock valued at $841,000 after buying an additional 180 shares during the last quarter. Waldron Private Wealth LLC raised its position in PayPal by 1.9% in the 4th quarter. Waldron Private Wealth LLC now owns 9,619 shares of the credit services provider’s stock valued at $590,000 after buying an additional 182 shares during the last quarter. Finally, Indiana Trust & Investment Management CO raised its position in PayPal by 18.6% in the 1st quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock valued at $79,000 after buying an additional 184 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

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.