PayPal Holdings, Inc. (PYPL) Sees Large Drop in Short Interest

PayPal Holdings, Inc. (NASDAQ:PYPL) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 19,366,330 shares, a decrease of 26.2% from the October 13th total of 26,237,614 shares. Based on an average daily trading volume, of 12,225,750 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.7% of the company’s shares are short sold.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Guardian Life Insurance Co. of America increased its stake in shares of PayPal Holdings by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 4,338 shares of the credit services provider’s stock worth $187,000 after purchasing an additional 38 shares in the last quarter. Apriem Advisors increased its stake in shares of PayPal Holdings by 0.6% in the second quarter. Apriem Advisors now owns 8,398 shares of the credit services provider’s stock worth $451,000 after purchasing an additional 52 shares in the last quarter. Westside Investment Management Inc. increased its stake in shares of PayPal Holdings by 0.4% in the second quarter. Westside Investment Management Inc. now owns 13,849 shares of the credit services provider’s stock worth $761,000 after purchasing an additional 60 shares in the last quarter. Sigma Planning Corp increased its stake in shares of PayPal Holdings by 0.4% in the second quarter. Sigma Planning Corp now owns 16,819 shares of the credit services provider’s stock worth $903,000 after purchasing an additional 74 shares in the last quarter. Finally, Train Babcock Advisors LLC increased its stake in shares of PayPal Holdings by 1.6% in the second quarter. Train Babcock Advisors LLC now owns 5,440 shares of the credit services provider’s stock worth $292,000 after purchasing an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 82.19% of the company’s stock.

Shares of PayPal Holdings (PYPL) opened at $73.99 on Friday. The company has a market cap of $89,061.53, a PE ratio of 52.93, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03. PayPal Holdings has a 12-month low of $38.06 and a 12-month high of $75.45.

PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings data on Thursday, October 19th. The credit services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. PayPal Holdings had a net margin of 12.69% and a return on equity of 11.33%. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 earnings per share. equities analysts predict that PayPal Holdings will post 1.37 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on the stock. Oppenheimer Holdings, Inc. increased their price objective on shares of PayPal Holdings from $50.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Wells Fargo & Company increased their price objective on shares of PayPal Holdings from $65.00 to $70.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Cowen and Company reiterated a “market perform” rating and set a $52.00 price objective (up from $48.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $70.00 price objective on shares of PayPal Holdings in a research report on Thursday, July 27th. Finally, Loop Capital increased their price objective on shares of PayPal Holdings from $57.00 to $67.00 and gave the stock a “hold” rating in a research report on Friday, October 20th. Ten investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $69.85.

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About PayPal Holdings

PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.

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