PayPal (NASDAQ:PYPL) Sets New 1-Year High – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price reached a new 52-week high on Wednesday . The company traded as high as $82.23 and last traded at $81.29, with a volume of 1022910 shares trading hands. The stock had previously closed at $80.91.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PYPL shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $78.00 price target on shares of PayPal in a research note on Wednesday, September 18th. BMO Capital Markets lifted their target price on PayPal from $72.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price target on shares of PayPal in a research report on Wednesday, July 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $84.00 price target on shares of PayPal in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price objective on PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Sixteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average price target of $78.03.

PayPal Stock Performance

The stock has a 50 day simple moving average of $75.11 and a 200 day simple moving average of $66.95. The stock has a market cap of $85.14 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 1.50 and a beta of 1.44. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. PayPal’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts expect that PayPal Holdings, Inc. will post 4.44 earnings per share for the current year.

Hedge Funds Weigh In On PayPal

A number of institutional investors have recently modified their holdings of the business. Sound Income Strategies LLC lifted its stake in PayPal by 77.9% in the 1st quarter. Sound Income Strategies LLC now owns 1,247 shares of the credit services provider’s stock valued at $84,000 after purchasing an additional 546 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its stake in shares of PayPal by 47.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 18,526 shares of the credit services provider’s stock valued at $1,241,000 after acquiring an additional 5,985 shares during the last quarter. Thrive Wealth Management LLC boosted its holdings in shares of PayPal by 29.4% during the 1st quarter. Thrive Wealth Management LLC now owns 6,048 shares of the credit services provider’s stock valued at $405,000 after acquiring an additional 1,373 shares in the last quarter. 180 Wealth Advisors LLC acquired a new position in PayPal in the 1st quarter worth about $516,000. Finally, Hennessy Advisors Inc. raised its position in PayPal by 7.5% in the first quarter. Hennessy Advisors Inc. now owns 21,500 shares of the credit services provider’s stock valued at $1,440,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.