Paypal (PYPL) Reaches New 12-Month High on Better-Than-Expected Earnings

Paypal Holdings Inc (NASDAQ:PYPL) shares hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $85.55 and last traded at $85.56, with a volume of 4283893 shares. The stock had previously closed at $83.78.

The credit services provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.64 billion. Paypal had a return on equity of 15.83% and a net margin of 16.56%. The company’s revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS.

Several equities analysts have recently weighed in on the company. Vetr raised Paypal from a “hold” rating to a “buy” rating and set a $86.65 price objective on the stock in a research note on Thursday. Citigroup reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Paypal in a research note on Thursday. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Paypal in a research note on Thursday. Guggenheim reaffirmed a “buy” rating on shares of Paypal in a research note on Thursday. Finally, Mizuho reiterated a “hold” rating and set a $70.00 target price on shares of Paypal in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Paypal has a consensus rating of “Buy” and an average price target of $77.04.

In other news, Director Rodney C. Adkins purchased 6,750 shares of the stock in a transaction dated Friday, December 8th. The stock was acquired at an average cost of $74.04 per share, for a total transaction of $499,770.00. Following the acquisition, the director now owns 10,149 shares of the company’s stock, valued at $751,431.96. The acquisition was disclosed in a filing with the SEC, which is available at this link. 6.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. San Francisco Sentry Investment Group CA boosted its position in Paypal by 352.8% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,562 shares of the credit services provider’s stock valued at $100,000 after purchasing an additional 1,217 shares during the period. Arcadia Investment Management Corp MI boosted its position in Paypal by 230.4% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,434 shares of the credit services provider’s stock valued at $106,000 after purchasing an additional 1,000 shares during the period. Front Row Advisors LLC acquired a new position in Paypal during the 4th quarter valued at approximately $111,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Paypal during the 3rd quarter valued at approximately $113,000. Finally, Kistler Tiffany Companies LLC boosted its position in Paypal by 511.9% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 2,013 shares of the credit services provider’s stock valued at $129,000 after purchasing an additional 1,684 shares during the period. Institutional investors and hedge funds own 81.70% of the company’s stock.

The firm has a market capitalization of $94,230.00 and a PE ratio of 53.33.

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Paypal Company Profile

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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