PayPal (NASDAQ:PYPL) Shares Down 0.3% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price traded down 0.3% during mid-day trading on Wednesday . The company traded as low as $86.97 and last traded at $87.75. 1,585,374 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 5,553,265 shares. The stock had previously closed at $87.97.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Barclays boosted their target price on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Stephens increased their price target on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Canaccord Genuity Group increased their price target on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their target price on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Oppenheimer began coverage on PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.65.

PayPal Stock Performance

The company has a 50-day moving average price of $86.51 and a two-hundred day moving average price of $75.52. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $83.57 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. On average, equities analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

Hedge funds have recently modified their holdings of the stock. Quest Partners LLC raised its holdings in PayPal by 198.9% during the 2nd quarter. Quest Partners LLC now owns 10,957 shares of the credit services provider’s stock valued at $636,000 after acquiring an additional 7,291 shares during the period. Choreo LLC raised its holdings in PayPal by 284.4% during the 2nd quarter. Choreo LLC now owns 21,128 shares of the credit services provider’s stock valued at $1,222,000 after acquiring an additional 15,631 shares during the period. Dorsey & Whitney Trust CO LLC raised its holdings in PayPal by 13.4% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 8,774 shares of the credit services provider’s stock valued at $509,000 after acquiring an additional 1,037 shares during the period. Andra AP fonden grew its position in shares of PayPal by 50.9% during the 2nd quarter. Andra AP fonden now owns 90,769 shares of the credit services provider’s stock valued at $5,267,000 after purchasing an additional 30,600 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its position in shares of PayPal by 2.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 12,229 shares of the credit services provider’s stock valued at $710,000 after purchasing an additional 259 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

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.