PayPal (NASDAQ:PYPL) Stock Price Down 0.3%

PayPal Holdings, Inc. (NASDAQ:PYPL) traded down 0.3% on Tuesday . The company traded as low as $60.31 and last traded at $60.56. 1,597,792 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 14,366,853 shares. The stock had previously closed at $60.77.

Analyst Ratings Changes

PYPL has been the topic of several research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and set a $69.00 price target on shares of PayPal in a research note on Monday, June 24th. Wells Fargo & Company increased their price objective on PayPal from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. JMP Securities boosted their target price on PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $78.00 price target on shares of PayPal in a report on Thursday, July 11th. Finally, StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Twenty-one analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, PayPal presently has a consensus rating of “Hold” and an average target price of $73.82.

PayPal Stock Down 0.7 %

The firm’s 50 day moving average price is $61.46 and its two-hundred day moving average price is $62.23. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $63.11 billion, a P/E ratio of 15.25, a PEG ratio of 0.97 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.15 EPS for the current year.

Insiders Place Their Bets

In related news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the transaction, the director now directly owns 13,976 shares of the company’s stock, valued at $861,620.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently bought and sold shares of the company. Pittenger & Anderson Inc. boosted its stake in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of PayPal in the fourth quarter valued at $25,000. American National Bank bought a new position in shares of PayPal in the first quarter valued at about $27,000. Register Financial Advisors LLC acquired a new stake in shares of PayPal during the 1st quarter worth about $30,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after buying an additional 185 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.