PayPal (NASDAQ:PYPL) Shares Up 0.8%

PayPal Holdings, Inc. (NASDAQ:PYPL) shares shot up 0.8% on Thursday . The stock traded as high as $64.43 and last traded at $64.39. 2,077,026 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 15,804,745 shares. The stock had previously closed at $63.90.

Analysts Set New Price Targets

PYPL has been the subject of several analyst reports. Citigroup dropped their target price on PayPal from $76.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Royal Bank of Canada increased their price objective on shares of PayPal from $74.00 to $84.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Robert W. Baird boosted their target price on shares of PayPal from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Tuesday, April 30th. Finally, JMP Securities upped their price objective on PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 1st. Twenty-two equities research 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 stock has an average rating of “Hold” and a consensus price target of $72.73.

PayPal Price Performance

The firm has a market capitalization of $67.45 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 1.15 and a beta of 1.41. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $64.68 and a two-hundred day moving average price of $61.26.

PayPal (NASDAQ:PYPL) last announced its quarterly 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 firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period last year, the firm posted $0.86 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. As a group, research analysts forecast that PayPal Holdings, Inc. will post 4.13 EPS for the current year.

Insider Buying and Selling

In related news, SVP Frank Keller sold 7,686 shares of the company’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 completion of the sale, the senior vice president now 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 accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Several hedge funds have recently modified their holdings of PYPL. Sapient Capital LLC bought a new stake in PayPal in the fourth quarter worth about $806,000. Louisiana State Employees Retirement System bought a new stake in PayPal during the fourth quarter worth approximately $9,267,000. Bartlett & Co. LLC grew its position in PayPal by 8.5% in the fourth quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock worth $594,000 after buying an additional 740 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of PayPal by 9.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock valued at $53,344,000 after buying an additional 73,687 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its position in shares of PayPal by 4.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock valued at $1,183,000 after acquiring an additional 942 shares during the last quarter. 68.32% of the stock is currently 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.