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 guidance of 0.830-0.830 for the period, compared to the consensus earnings per share 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.

PayPal Price Performance

PYPL traded up $0.78 during trading on Tuesday, reaching $67.77. 31,878,573 shares of the company traded hands, compared to its average volume of 16,442,420. 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 12-month low of $50.25 and a 12-month high of $76.54. The firm has a fifty day simple moving average of $63.03 and a 200 day simple moving average of $60.27. The company has a market cap of $71.34 billion, a P/E ratio of 17.71, a PEG ratio of 1.23 and a beta of 1.45.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group raised their price target on PayPal from $56.00 to $63.00 and gave the stock a neutral rating in a research report on Friday, March 1st. Argus lowered PayPal from a buy rating to a hold rating in a research note on Friday, February 9th. BTIG Research reiterated a neutral rating on shares of PayPal in a research note on Friday, January 5th. DZ Bank lowered PayPal from a buy rating to a hold rating and set a $60.00 price target on the stock. in a research note on Friday, February 9th. Finally, Stephens restated an equal weight rating and set a $70.00 price target on shares of PayPal in a research note on Thursday, February 8th. Twenty-four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $70.72.

Insider Buying and Selling

In related 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 sale, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

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.