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

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price reached a new 52-week high on Monday . The company traded as high as $88.74 and last traded at $88.60, with a volume of 262815 shares. The stock had previously closed at $86.77.

Analysts Set New Price Targets

PYPL has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Oppenheimer initiated coverage on PayPal in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Stephens boosted their price target on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Canaccord Genuity Group increased their target price on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler restated a “neutral” rating and set a $88.00 price target on shares of PayPal in a research report on Friday. Sixteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.60.

PayPal Price Performance

The company has a market capitalization of $87.31 billion, a PE ratio of 21.03, a P/E/G ratio of 1.54 and a beta of 1.43. 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 fifty day simple moving average of $80.41 and a 200-day simple moving average of $69.72.

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

Institutional Trading of PayPal

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after buying an additional 7,767,072 shares during the last quarter. Mizuho Securities USA LLC raised its stake in shares of PayPal by 12,919.4% during the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after purchasing an additional 10,419,351 shares during the last quarter. Legal & General Group Plc grew its position in PayPal by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after buying an additional 276,287 shares during the last quarter. Clearbridge Investments LLC increased its stake in PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares during the period. Finally, Primecap Management Co. CA lifted its stake in shares of PayPal by 21.6% in the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after acquiring an additional 1,069,356 shares during the period. Hedge funds and other 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.