PayPal (NASDAQ:PYPL) Reaches New 52-Week High – Should You Buy?

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PYPL. UBS Group increased their target price on PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Monness Crespi & Hardt raised their target price on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Robert W. Baird upped their price target on shares of PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their price objective on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group increased their target price on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Sixteen 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’s stock. According to MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Trading Down 0.9 %

The firm has a fifty day moving average of $81.04 and a 200-day moving average of $70.06. 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 stock has a market capitalization of $87.16 billion, a price-to-earnings ratio of 20.75, a P/E/G ratio of 1.56 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion for 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% on a year-over-year basis. During the same period last year, the business posted $0.97 EPS. As a group, equities analysts predict that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PayPal

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PYPL. United Advisor Group LLC purchased a new position in PayPal in the third quarter valued at about $810,000. FCG Investment Co acquired a new position in shares of PayPal in the 3rd quarter valued at approximately $1,079,000. Equity Investment Corp boosted its stake in shares of PayPal by 3.5% during the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after buying an additional 67,497 shares during the last quarter. Weil Company Inc. increased its stake in shares of PayPal by 68.9% in the third quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock worth $3,253,000 after buying an additional 17,003 shares during the last quarter. Finally, Brown Financial Advisors bought a new stake in shares of PayPal in the 2nd quarter worth about $1,454,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.