PayPal (NASDAQ:PYPL) Releases FY 2024 Earnings Guidance

PayPal (NASDAQ:PYPL) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 3.920-3.960 for the period, compared to the consensus estimate of 4.460. The company issued revenue guidance of -. PayPal also updated its Q4 2024 guidance to 1.030-1.070 EPS.

PayPal Trading Down 1.5 %

Shares of NASDAQ:PYPL traded down $1.18 during midday trading on Wednesday, hitting $79.10. 8,347,253 shares of the stock traded hands, compared to its average volume of 13,609,171. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $76.10 and its two-hundred day moving average is $67.41. The stock has a market capitalization of $82.74 billion, a PE ratio of 20.00, a P/E/G ratio of 1.51 and a beta of 1.44. PayPal has a one year low of $50.80 and a one year high of $83.70.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. The business had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 EPS. As a group, research analysts forecast that PayPal will post 4.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PYPL. Robert W. Baird boosted their price target on PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday. Susquehanna boosted their target price on PayPal from $83.00 to $94.00 and gave the stock a “positive” rating in a report on Wednesday. Sanford C. Bernstein cut PayPal from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. Morgan Stanley lifted their price target on PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Royal Bank of Canada increased their price objective on shares of PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday. Seventeen research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $81.07.

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.