PayPal (NASDAQ:PYPL) Sets New 52-Week High at $74.87

PayPal Holdings, Inc. (NASDAQ:PYPL) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $74.87 and last traded at $74.87, with a volume of 167382 shares. The stock had previously closed at $73.12.

Analyst Ratings Changes

Several analysts recently issued reports on PYPL shares. Argus raised PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Citigroup raised their target price on PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. TD Cowen raised their target price on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $78.00 target price on shares of PayPal in a research note on Wednesday. Finally, Evercore ISI raised their target price on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Seventeen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.58.

PayPal Stock Performance

The firm has a market capitalization of $80.01 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.00 and a beta of 1.43. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The business’s 50 day simple moving average is $66.33 and its two-hundred day simple moving average is $64.17.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 EPS. Research analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PayPal

A number of hedge funds have recently added to or reduced their stakes in the stock. Gryphon Financial Partners LLC grew its position in shares of PayPal by 36.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 9,659 shares of the credit services provider’s stock valued at $593,000 after acquiring an additional 2,569 shares during the period. Gladstone Institutional Advisory LLC grew its position in shares of PayPal by 36.4% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 16,579 shares of the credit services provider’s stock valued at $1,018,000 after acquiring an additional 4,426 shares during the period. Balentine LLC bought a new position in PayPal in the 4th quarter worth $266,000. Sachetta LLC bought a new position in PayPal in the 4th quarter worth $60,000. Finally, Franklin Resources Inc. boosted its holdings in PayPal by 198.4% in the 4th quarter. Franklin Resources Inc. now owns 429,954 shares of the credit services provider’s stock worth $26,403,000 after buying an additional 285,847 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

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.