PayPal (NASDAQ:PYPL) Issues 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 guidance of 0.830-0.830 for the period, compared to the consensus earnings per share 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 Stock Up 0.2 %

NASDAQ PYPL traded up $0.15 during mid-day trading on Thursday, hitting $66.29. The company’s stock had a trading volume of 6,331,658 shares, 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 company’s 50 day simple moving average is $63.39 and its 200 day simple moving average is $60.39. PayPal has a twelve month low of $50.25 and a twelve month high of $76.54. The firm has a market capitalization of $69.78 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.26 and a beta of 1.41.

PayPal (NASDAQ:PYPL) last announced 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). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. Analysts anticipate that PayPal will post 4.02 earnings per share for the current year.

Wall Street Analyst Weigh In

PYPL has been the topic of a number of recent research reports. JMP Securities increased their target price on PayPal from $70.00 to $82.00 and gave the stock a market outperform rating in a research note on Wednesday. StockNews.com downgraded PayPal from a buy rating to a hold rating in a research note on Wednesday. Needham & Company LLC reissued a hold rating on shares of PayPal in a research report on Tuesday. Morgan Stanley restated an equal weight rating and set a $66.00 price objective (down previously from $118.00) on shares of PayPal in a report on Tuesday, January 9th. Finally, Monness Crespi & Hardt boosted their price objective on PayPal from $80.00 to $88.00 and gave the company a buy rating in a report on Monday. Twenty-five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, PayPal currently has an average rating of Hold and a consensus target price of $72.73.

Insiders Place Their Bets

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