PayPal (NASDAQ:PYPL) Releases Q2 2024 Earnings Guidance

PayPal (NASDAQ:PYPL) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.830-0.830 for the period, compared to the consensus estimate of 1.130. The company issued revenue guidance of $7.8 billion-$7.8 billion, compared to the consensus revenue estimate of $7.3 billion. PayPal also updated its FY 2024 guidance to 3.650-3.650 EPS.

PayPal Trading Up 0.2 %

Shares of PYPL traded up $0.15 on Thursday, reaching $66.29. 6,331,658 shares of the company’s stock were exchanged, compared to its average volume of 16,484,373. The company has a current ratio of 1.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $69.78 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 1.26 and a beta of 1.41. The business has a 50 day moving average price of $63.39 and a two-hundred day moving average price of $60.39. PayPal has a 12 month low of $50.25 and a 12 month high of $76.54.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. Research analysts anticipate that PayPal will post 4.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PYPL. StockNews.com cut shares of PayPal from a buy rating to a hold rating in a report on Wednesday. Susquehanna increased their target price on shares of PayPal from $61.00 to $65.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. Wells Fargo & Company increased their target price on shares of PayPal from $60.00 to $65.00 and gave the stock an equal weight rating in a report on Wednesday. TD Cowen increased their target price on shares of PayPal from $58.00 to $68.00 and gave the stock a hold rating in a report on Wednesday. Finally, Oppenheimer restated a market perform rating on shares of PayPal in a report on Thursday, January 25th. Twenty-five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of $72.73.

Insider Buying and Selling

In other PayPal news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the transaction, the senior vice president now owns 23,430 shares in the company, valued at approximately $1,420,795.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.

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.