PayPal (NASDAQ:PYPL) Posts Earnings Results, Beats Expectations By $0.13 EPS

PayPal (NASDAQ:PYPL) announced its earnings results on Tuesday. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13, Briefing.com reports. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same period in the prior year, the business earned $0.97 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. PayPal updated its FY 2024 guidance to 3.920-3.960 EPS and its Q4 2024 guidance to 1.030-1.070 EPS.

PayPal Stock Performance

Shares of NASDAQ:PYPL opened at $77.25 on Friday. PayPal has a 1 year low of $52.55 and a 1 year high of $83.70. The stock has a market capitalization of $77.45 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.40 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.24. The company’s 50 day simple moving average is $76.50 and its 200 day simple moving average is $67.66.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PYPL. Jefferies Financial Group decreased their price objective on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Macquarie boosted their price objective on shares of PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday. Sanford C. Bernstein downgraded shares of PayPal from an “outperform” rating to a “market perform” rating and raised their target price for the company from $75.00 to $80.00 in a research report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their price target on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Seventeen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.29.

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.