PayPal (NASDAQ:PYPL) Updates Q2 2024 Earnings Guidance

PayPal (NASDAQ:PYPL) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.830-0.830 for the period, compared to the consensus 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 Analysts Forecast Growth

Several analysts recently issued reports on PYPL shares. Morgan Stanley reaffirmed an equal weight rating and set a $66.00 price objective (down previously from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. JMP Securities lifted their price target on shares of PayPal from $68.00 to $70.00 and gave the stock a market outperform rating in a research note on Wednesday, April 17th. Needham & Company LLC reissued a hold rating on shares of PayPal in a research report on Tuesday. Citigroup lowered their price objective on shares of PayPal from $76.00 to $73.00 and set a buy rating on the stock in a research report on Thursday, February 8th. Finally, Wedbush reaffirmed an outperform rating and issued a $85.00 target price on shares of PayPal in a report on Thursday, February 8th. Twenty-four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $70.72.

PayPal Stock Up 1.2 %

Shares of PYPL stock traded up $0.78 on Tuesday, hitting $67.77. The stock had a trading volume of 31,878,573 shares, compared to its average volume of 16,442,420. The firm has a market capitalization of $71.34 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 1.23 and a beta of 1.45. The stock’s 50 day moving average is $63.03 and its 200-day moving average is $60.27. 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 has a 52-week low of $50.25 and a 52-week high of $76.54.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. PayPal’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 earnings per share. As a group, research analysts expect that PayPal will post 4.02 earnings per share for the current year.

Insider Activity at PayPal

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