PayPal (NASDAQ:PYPL) Trading 2.2% Higher After Analyst Upgrade

PayPal Holdings, Inc. (NASDAQ:PYPL) rose 2.2% during mid-day trading on Tuesday after Evercore ISI raised their price target on the stock from $56.00 to $60.00. Evercore ISI currently has an in-line rating on the stock. PayPal traded as high as $67.97 and last traded at $67.44. Approximately 4,439,350 shares were traded during trading, a decline of 76% from the average daily volume of 18,423,566 shares. The stock had previously closed at $66.00.

A number of other brokerages have also issued reports on PYPL. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. Citigroup reduced their target price on PayPal from $76.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Bank of America lowered PayPal from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $77.00 to $66.00 in a research note on Wednesday, December 6th. BMO Capital Markets reduced their target price on PayPal from $65.00 to $60.00 and set a “market perform” rating for the company in a research note on Thursday, February 8th. Finally, DZ Bank downgraded PayPal from a “buy” rating to a “hold” rating and set a $60.00 price target on the stock. in a research report on Friday, February 9th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $70.47.

Insider Buying and Selling

In related news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the transaction, the senior vice president now owns 23,430 shares in the company, valued at $1,420,795.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On PayPal

Institutional investors and hedge funds have recently bought and sold shares of the stock. VitalStone Financial LLC lifted its position in PayPal by 4,514.3% in the first quarter. VitalStone Financial LLC now owns 323 shares of the credit services provider’s stock valued at $75,000 after acquiring an additional 316 shares during the last quarter. SkyView Investment Advisors LLC lifted its position in PayPal by 146.5% in the second quarter. SkyView Investment Advisors LLC now owns 382 shares of the credit services provider’s stock valued at $73,000 after acquiring an additional 227 shares during the last quarter. PCA Investment Advisory Services Inc. purchased a new stake in PayPal in the second quarter valued at $27,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in PayPal in the fourth quarter valued at $25,000. Finally, Resurgent Financial Advisors LLC purchased a new stake in PayPal in the fourth quarter valued at $29,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Down 0.1 %

The business’s fifty day moving average price is $61.32 and its 200 day moving average price is $59.36. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $71.35 billion, a PE ratio of 17.34, a PEG ratio of 1.52 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. The business had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 earnings per share. On average, equities research analysts forecast that PayPal Holdings, Inc. will post 3.87 earnings per share for the current fiscal year.

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.