PayPal (NASDAQ:PYPL) Trading 0.2% Higher

PayPal Holdings, Inc. (NASDAQ:PYPL) shares shot up 0.2% on Tuesday . The stock traded as high as $63.83 and last traded at $63.64. 2,356,135 shares were traded during mid-day trading, a decline of 86% from the average session volume of 16,738,568 shares. The stock had previously closed at $63.51.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PYPL. JPMorgan Chase & Co. decreased their price objective on PayPal from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, February 8th. Stephens reissued an “equal weight” rating and issued a $70.00 price objective on shares of PayPal in a report on Thursday, February 8th. DZ Bank lowered PayPal from a “buy” rating to a “hold” rating and set a $60.00 price objective for the company. in a report on Friday, February 9th. JMP Securities lifted their price objective on PayPal from $68.00 to $70.00 and gave the stock a “market outperform” rating in a report on Wednesday. Finally, Oppenheimer restated a “market perform” rating on shares of PayPal in a research note on Thursday, January 25th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $70.53.

PayPal Stock Down 0.3 %

The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $62.15 and a 200 day simple moving average of $59.89. The firm has a market capitalization of $66.59 billion, a PE ratio of 16.47, a PEG ratio of 1.44 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 3.93 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Frank Keller sold 7,686 shares of the business’s 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 of the company’s stock, valued at $1,420,795.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Several hedge funds have recently made changes to their positions in PYPL. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of PayPal by 12.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,246,996 shares of the credit services provider’s stock valued at $144,215,000 after buying an additional 138,875 shares during the period. Dakota Wealth Management increased its stake in shares of PayPal by 8.6% during the first quarter. Dakota Wealth Management now owns 4,894 shares of the credit services provider’s stock valued at $566,000 after buying an additional 387 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of PayPal by 15.4% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,860 shares of the credit services provider’s stock valued at $793,000 after buying an additional 918 shares during the period. Covestor Ltd boosted its position in shares of PayPal by 136.1% during the first quarter. Covestor Ltd now owns 1,334 shares of the credit services provider’s stock valued at $154,000 after purchasing an additional 769 shares in the last quarter. Finally, Donaldson Capital Management LLC boosted its position in shares of PayPal by 5.3% during the first quarter. Donaldson Capital Management LLC now owns 3,095 shares of the credit services provider’s stock valued at $358,000 after purchasing an additional 155 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.