PayPal (NASDAQ:PYPL) Issues Q2 2024 Earnings Guidance

PayPal (NASDAQ:PYPL) updated its second quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.830-0.830 for the period, compared to the consensus EPS estimate of 1.130. The company issued revenue guidance of $7.8 billion-$7.8 billion, compared to the consensus revenue estimate of $7.3 billion. PayPal also updated its FY 2024 guidance to 3.650-3.650 EPS.

Wall Street Analyst Weigh In

Several research firms have commented on PYPL. Needham & Company LLC reiterated a hold rating on shares of PayPal in a report on Tuesday. Monness Crespi & Hardt increased their price target on shares of PayPal from $80.00 to $88.00 and gave the stock a buy rating in a research note on Monday. DZ Bank cut shares of PayPal from a buy rating to a hold rating and set a $60.00 price target for the company. in a research note on Friday, February 9th. Daiwa Capital Markets downgraded shares of PayPal from an outperform rating to a neutral rating and cut their price objective for the stock from $64.00 to $62.00 in a research report on Tuesday, February 13th. Finally, Mizuho upped their price objective on shares of PayPal from $60.00 to $68.00 and gave the stock a neutral rating in a research report on Wednesday. Twenty-four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $72.06.

PayPal Stock Down 3.2 %

Shares of NASDAQ PYPL traded down $2.19 during trading hours on Wednesday, hitting $65.73. The stock had a trading volume of 9,905,119 shares, compared to its average volume of 16,501,635. The company has a market capitalization of $69.19 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.25 and a beta of 1.45. The firm’s 50-day moving average price is $63.21 and its two-hundred day moving average price is $60.35. PayPal has a 52 week low of $50.25 and a 52 week high of $76.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29.

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 analysts’ consensus estimates of $1.22 by ($0.14). The company had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 EPS. Analysts anticipate that PayPal will post 4.02 EPS for the current fiscal year.

Insider Activity at PayPal

In other PayPal news, SVP Frank Keller sold 7,686 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

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.