PayPal Holdings, Inc. (NASDAQ:PYPL) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 19,366,330 shares, a decrease of 26.2% from the October 13th total of 26,237,614 shares. Based on an average daily volume of 12,225,750 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.7% of the shares of the stock are sold short.

A number of large investors have recently bought and sold shares of the stock. Salem Investment Counselors Inc. increased its holdings in PayPal Holdings by 69.4% in the third quarter. Salem Investment Counselors Inc. now owns 48,796 shares of the credit services provider’s stock valued at $3,143,000 after buying an additional 19,991 shares during the last quarter. Moors & Cabot Inc. increased its holdings in PayPal Holdings by 10.7% in the third quarter. Moors & Cabot Inc. now owns 8,756 shares of the credit services provider’s stock valued at $558,000 after buying an additional 845 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in PayPal Holdings in the third quarter valued at $1,289,000. Cetera Advisors LLC increased its holdings in PayPal Holdings by 14.3% in the third quarter. Cetera Advisors LLC now owns 5,449 shares of the credit services provider’s stock valued at $346,000 after buying an additional 682 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its holdings in PayPal Holdings by 2.6% in the third quarter. IFM Investors Pty Ltd now owns 31,899 shares of the credit services provider’s stock valued at $2,042,000 after buying an additional 813 shares during the last quarter. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PayPal Holdings (NASDAQ:PYPL) opened at $77.70 on Friday. The stock has a market capitalization of $93,390.00 and a price-to-earnings ratio of 53.21. PayPal Holdings has a 52 week low of $38.06 and a 52 week high of $77.94.

PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings data on Thursday, October 19th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.18 billion. PayPal Holdings had a return on equity of 11.33% and a net margin of 12.69%. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period last year, the firm earned $0.35 earnings per share. research analysts expect that PayPal Holdings will post 1.37 EPS for the current fiscal year.

A number of equities analysts recently weighed in on the company. Oppenheimer Holdings, Inc. upped their price target on PayPal Holdings from $50.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Wells Fargo & Company boosted their price objective on PayPal Holdings from $65.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, October 20th. Cowen and Company reiterated a “market perform” rating and set a $52.00 price objective (up from $48.00) on shares of PayPal Holdings in a research note on Thursday, July 27th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $70.00 price objective on shares of PayPal Holdings in a research note on Thursday, July 27th. Finally, Loop Capital boosted their price objective on PayPal Holdings from $57.00 to $67.00 and gave the stock a “hold” rating in a research note on Friday, October 20th. Eleven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $70.63.

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About PayPal Holdings

PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.

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