PayPal (NASDAQ:PYPL) Hits New 12-Month High – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $84.19 and last traded at $84.19, with a volume of 120857 shares traded. The stock had previously closed at $83.01.

Analyst Ratings Changes

Several research firms recently weighed in on PYPL. TD Cowen raised their price objective on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Canaccord Genuity Group lifted their price target on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Susquehanna increased their price objective on shares of PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Barclays lifted their target price on shares of PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company lifted their price objective on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average price target of $83.45.

PayPal Price Performance

The firm has a market cap of $86.62 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 1.55 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The company’s fifty day moving average is $77.67 and its two-hundred day moving average is $68.49.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 earnings per share. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.56 EPS for the current year.

Institutional Trading of PayPal

Hedge funds have recently made changes to their positions in the company. Planning Capital Management Corp increased its stake in PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after buying an additional 268 shares during the period. Financial Management Professionals Inc. lifted its stake in shares of PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 243 shares in the last quarter. Family Firm Inc. purchased a new position in PayPal in the second quarter valued at about $29,000. SYSTM Wealth Solutions LLC grew its stake in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in PayPal during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

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.