Brokers Set Expectations for PayPal Holdings, Inc.’s Q2 2024 Earnings (NASDAQ:PYPL)

PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) – Equities researchers at Wedbush issued their Q2 2024 earnings per share estimates for shares of PayPal in a research note issued to investors on Wednesday, February 7th. Wedbush analyst M. Katri forecasts that the credit services provider will post earnings per share of $0.95 for the quarter. Wedbush currently has a “Outperform” rating and a $85.00 price objective on the stock. The consensus estimate for PayPal’s current full-year earnings is $4.32 per share. Wedbush also issued estimates for PayPal’s Q3 2024 earnings at $1.06 EPS, Q4 2024 earnings at $1.19 EPS and FY2025 earnings at $4.71 EPS.

PYPL has been the topic of a number of other research reports. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a report on Tuesday, February 6th. Susquehanna increased their price target on PayPal from $61.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. William Blair reiterated an “outperform” rating on shares of PayPal in a research note on Thursday, November 2nd. UBS Group reiterated a “neutral” rating and issued a $63.00 price target on shares of PayPal in a research note on Friday, October 20th. Finally, Bank of America cut PayPal from a “buy” rating to a “neutral” rating and dropped their price target for the company from $77.00 to $66.00 in a research note on Wednesday, December 6th. Twenty-two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.90.

Read Our Latest Analysis on PYPL

PayPal Trading Up 2.0 %

Shares of PYPL stock opened at $60.09 on Monday. The stock’s fifty day moving average price is $61.27 and its two-hundred day moving average price is $59.94. The company has a market cap of $66.10 billion, a PE ratio of 15.65, a P/E/G ratio of 1.22 and a beta of 1.47. PayPal has a fifty-two week low of $50.25 and a fifty-two week high of $80.71. 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 (NASDAQ:PYPLGet Free Report) last issued its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS.

Hedge Funds Weigh In On PayPal

A number of hedge funds have recently added to or reduced their stakes in PYPL. Moneta Group Investment Advisors LLC boosted its stake in PayPal by 110,462.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock valued at $1,220,431,000 after purchasing an additional 17,120,572 shares during the last quarter. Norges Bank purchased a new position in shares of PayPal in the 4th quarter worth approximately $1,022,333,000. Portside Wealth Group LLC purchased a new position in shares of PayPal in the 2nd quarter worth approximately $273,344,000. Clearbridge Investments LLC boosted its stake in shares of PayPal by 122.0% in the 1st quarter. Clearbridge Investments LLC now owns 6,230,481 shares of the credit services provider’s stock worth $720,555,000 after buying an additional 3,424,122 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of PayPal by 36.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 10,771,095 shares of the credit services provider’s stock worth $718,755,000 after buying an additional 2,862,766 shares during the last quarter. Institutional investors and hedge funds own 68.42% of the company’s stock.

Insider Activity

In other news, insider Jonathan Auerbach sold 64,957 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $55.58, for a total value of $3,610,310.06. Following the completion of the sale, the insider now directly owns 79,051 shares in the company, valued at approximately $4,393,654.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other PayPal news, EVP Peggy Alford sold 15,000 shares of PayPal stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $56.76, for a total transaction of $851,400.00. Following the completion of the transaction, the executive vice president now owns 40,601 shares in the company, valued at approximately $2,304,512.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan Auerbach sold 64,957 shares of PayPal stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $55.58, for a total value of $3,610,310.06. Following the transaction, the insider now owns 79,051 shares of the company’s stock, valued at approximately $4,393,654.58. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

About PayPal

(Get Free Report)

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.

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