PayPal (NASDAQ:PYPL) Stock Price Down 0%

PayPal Holdings, Inc. (NASDAQ:PYPL) shares were down 0% during mid-day trading on Monday . The stock traded as low as $70.07 and last traded at $70.08. Approximately 1,233,419 shares traded hands during trading, a decline of 91% from the average daily volume of 14,030,483 shares. The stock had previously closed at $70.10.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PYPL. Robert W. Baird raised their price objective on PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $84.00 price target on shares of PayPal in a research report on Wednesday, July 31st. William Blair raised shares of PayPal to a “hold” rating in a report on Tuesday, July 30th. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, TD Cowen boosted their target price on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Eighteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.56.

PayPal Stock Performance

The stock has a fifty day simple moving average of $65.55 and a 200-day simple moving average of $63.95. The stock has a market cap of $72.66 billion, a P/E ratio of 17.65, a PEG ratio of 1.00 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. The firm 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 business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS. On average, equities analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Institutional Trading of PayPal

A number of hedge funds and other institutional investors have recently modified their holdings of PYPL. Norges Bank acquired a new position in shares of PayPal during the 4th quarter worth about $749,561,000. Legal & General Group Plc lifted its position in shares of PayPal by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after acquiring an additional 276,287 shares during the period. Clearbridge Investments LLC raised its position in shares of PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares in the last quarter. Primecap Management Co. CA increased its stake in PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after acquiring an additional 3,184,160 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of PayPal by 1.7% in the 4th quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock valued at $225,283,000 after purchasing an additional 61,384 shares during the last quarter. Institutional investors and hedge funds 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.