The stock of PayPal Holdings, Inc. (NASDAQ:PYPL) is now priced at $201.67 and the shares are 2.79 points up or 1.4% higher compared to its previous closing price of $198.88. The stock had 4.295 million contracts set over the past session. PYPL shares’ daily volume is compared to its average trading volume at 7.569 million shares. However, it has a float of 1170 million and although its performance was 3.65% over the week, it’s one to watch. Analysts have given the PYPL stock a yearly average price target of $217.45 per share. It means the stock’s upside potential is 7.82% with the PYPL share price recently placing at $196.24 to $201.96.
The shorts are running away from the PayPal Holdings, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the PYPL shares have declined. Short interest in the stock represents just 1.19% of its float, but the volume has dropped by -1525340. The volume of shorted shares dropped to 12.45 million from 13.975 million shares over the last two weeks. The average intraday trading volume has been 6.939 million shares, which means that days to cover moved to roughly 1.794129.
In the last trading session, PayPal Holdings, Inc. (NASDAQ:PYPL) raised by $7.1 over the week and gained $25.4 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $204.23. The stock recorded its established 52-week high on 08/05/20.
Since 03/23/20, the stock has traded to a low of $82.07 at 145.73%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.17. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, PayPal Holdings, Inc.’s two-week RSI is 63.41. This suggests that the stock is neutral at the moment and that PYPL shares’ price movement remains stable. The stochastic readings are equally revealing at 71.22% meaning the PYPL share price is currently in oversold territory.
The technical chart shows that the PYPL stock will likely settle at between $203.67 and $205.68 per share. However, if the stock dips below $197.95, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $194.24.
Currently, the stock is trading in the green of MACD, with a reading of 3.19. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Stephens though raised target price of PYPL stock from $194 to $228 but maintained Overweight recommendation in their August 04 review. Canaccord Genuity analysts see the stock as a Buy, but they also raised the share’s target price from $190 to $218 in a flash note released to investors on July 30. Daiwa Securities analysts see the stock as Outperform when the analysts resumed the share price coverage on July 21, placing it at $201.
The average rating for the PYPL equity is 1.81 and is currently gathering a bullish momentum. Of 44 analysts tracking PayPal Holdings, Inc. polled by Reuters, 7 rated PYPL as a hold. The remaining 37 analysts were split evenly. However, the split wasn’t equal as a majority (37) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the PYPL stock price is 44.41X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 92.5 above the group’s average of 34.4. PayPal Holdings, Inc. has its P/E ratio at 13.4, which means that the stock is currently trading at a premium relative to the 5.3 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for PayPal Holdings, Inc. (NASDAQ:PYPL) will increase by about 3.29%, which will see them reach $5400 million. The company’s full-year revenues are, however, expected to increase by about 20.37%, up from $17800 million to $21400 million. PYPL’s expected adjusted earnings should surge almost 54.1% to end up at $0.94 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 20.32% to record $3.73/share.