PayPal (NASDAQ:PYPL) Shares Down 0.7%

PayPal Holdings, Inc. (NASDAQ:PYPL) fell 0.7% during mid-day trading on Wednesday . The stock traded as low as $71.27 and last traded at $71.38. 3,436,691 shares were traded during trading, a decline of 76% from the average session volume of 14,443,331 shares. The stock had previously closed at $71.89.

Wall Street Analyst Weigh In

PYPL has been the subject of several research analyst reports. Barclays lifted their price target on shares of PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Jefferies Financial Group decreased their target price on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $84.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Stephens raised their price objective on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Finally, Susquehanna upped their target price on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a research report on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.56.

PayPal Price Performance

The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock has a market cap of $73.30 billion, a PE ratio of 17.94, a PEG ratio of 0.97 and a beta of 1.42. The business has a 50-day moving average price of $61.77 and a 200 day moving average price of $62.61.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 EPS. As a group, research analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PYPL. Norges Bank purchased a new position in shares of PayPal during the 4th quarter valued at $749,561,000. Primecap Management Co. CA grew its position in PayPal by 180.7% during the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after buying an additional 3,184,160 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in PayPal by 125.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after acquiring an additional 958,130 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of PayPal by 15.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after acquiring an additional 904,804 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of PayPal by 4,024.5% in the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock valued at $48,099,000 after acquiring an additional 764,258 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

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.