PayPal (NASDAQ:PYPL) Trading 1.2% Higher – Still a Buy?

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price shot up 1.2% on Wednesday . The stock traded as high as $90.04 and last traded at $89.79. 1,544,493 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 13,087,957 shares. The stock had previously closed at $88.76.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Robert W. Baird raised their target price on PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein cut PayPal from an “outperform” rating to a “market perform” rating and upped their target price for the company from $75.00 to $80.00 in a report on Thursday, October 10th. The Goldman Sachs Group increased their target price on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 target price on shares of PayPal in a research note on Thursday. Finally, BMO Capital Markets increased their price target on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Sixteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PayPal currently has an average rating of “Moderate Buy” and an average target price of $86.74.

PayPal Stock Up 1.8 %

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock has a market cap of $91.25 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The stock’s fifty day moving average price is $83.64 and its 200 day moving average price is $72.03.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 EPS. As a group, research analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Institutional Trading of PayPal

Several large investors have recently added to or reduced their stakes in the stock. 1ST Source Bank grew its stake in PayPal by 2.5% in the third quarter. 1ST Source Bank now owns 15,975 shares of the credit services provider’s stock worth $1,247,000 after purchasing an additional 391 shares during the period. Copley Financial Group Inc. purchased a new position in PayPal during the third quarter valued at $249,000. Franklin Resources Inc. boosted its holdings in shares of PayPal by 120.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider’s stock valued at $125,461,000 after buying an additional 849,311 shares in the last quarter. Peapack Gladstone Financial Corp increased its stake in shares of PayPal by 1.1% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 228,209 shares of the credit services provider’s stock worth $17,807,000 after acquiring an additional 2,576 shares in the last quarter. Finally, Synovus Financial Corp lifted its position in PayPal by 33.7% during the 3rd quarter. Synovus Financial Corp now owns 64,693 shares of the credit services provider’s stock valued at $5,048,000 after acquiring an additional 16,306 shares during the period. Institutional investors 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.