PayPal Soars to Record High After Earnings

No fewer than 12 analysts raised their price targets

Deputy Editor
May 7, 2020 at 10:16 AM
facebook twitter linkedin


The shares of PayPal Holdings Inc (NASDAQ:PYPL) are up 10.2% at $141.38, earlier touching a fresh record high of $143.85, after the company posted a first-quarter earnings beat. The payments name also shared optimism for its second-quarter forecast, saying sales will increase as people start to return to work. In response, no fewer than 12 analysts have raised their price targets -- with both Wedbush and Cannacord Genuity hiking to $160. Looking ahead, PayPal expects a strong second quarter as online shopping surges. 

PYPL is up 26.2% in the last month, giving it an 18.6% surplus year-to-date. Continuing its upward trend, today's pop puts the virtual payment outlet on pace toward its best daily percentage gain since March. 

Coming into today, 23 out of 26 analysts sport a "strong buy" rating, one considering a "buy," and the remaining two at a tepid "hold." Meanwhile, the equity's consensus 12-month price target of $140.79, comes in slightly below current levels.

Short interest has fallen off, down 26.4% in the last two reporting periods. The 11.87 million shares sold short make up just 1.1% of the stock's total available float, and would only take a little over one day to recover at PYPL's average pace of trading. 

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners