PayPal (NASDAQ:PYPL) Shares Down 0.6% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL) fell 0.6% during trading on Tuesday . The company traded as low as $85.85 and last traded at $86.42. 3,648,299 shares changed hands during trading, a decline of 73% from the average session volume of 13,510,818 shares. The stock had previously closed at $86.94.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. increased their price objective on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. William Blair upgraded shares of PayPal to a “hold” rating in a research report on Tuesday, July 30th. TD Cowen lifted their price target on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley lifted their target price on PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.45.

PayPal Stock Performance

The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $86.62 billion, a PE ratio of 20.63, a PEG ratio of 1.48 and a beta of 1.43. The business has a 50 day simple moving average of $77.67 and a 200 day simple moving average of $68.49.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the company posted $0.97 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Equities research analysts predict that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

Institutional Trading of PayPal

Institutional investors and hedge funds have recently bought and sold shares of the business. Family Firm Inc. purchased a new stake in PayPal in the 2nd quarter worth approximately $29,000. SYSTM Wealth Solutions LLC boosted its holdings in PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares in the last quarter. Tortoise Investment Management LLC grew its position in PayPal by 930.0% during the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after buying an additional 465 shares during the period. Planning Capital Management Corp increased its holdings in PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after buying an additional 268 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of PayPal in the first quarter worth about $34,000. 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.