PayPal (NASDAQ:PYPL) Trading Down 0.7% – Here’s Why

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) were down 0.7% during trading on Thursday . The stock traded as low as $86.44 and last traded at $86.74. Approximately 2,139,600 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 13,469,022 shares. The stock had previously closed at $87.31.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PYPL shares. BMO Capital Markets increased their price target on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a report on Sunday, November 3rd. Sanford C. Bernstein downgraded shares of PayPal from an “outperform” rating to a “market perform” rating and increased their target price for the company from $75.00 to $80.00 in a research report on Thursday, October 10th. Susquehanna boosted their price objective on PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.45.

PayPal Trading Up 0.0 %

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 firm has a 50-day moving average price of $78.86 and a 200-day moving average price of $69.01. The company has a market capitalization of $86.05 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.56 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.13. The business 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 firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 4.56 EPS for the current year.

Institutional Trading of PayPal

A number of hedge funds and other institutional investors have recently made changes to their positions in PYPL. Kingsview Wealth Management LLC increased its position in shares of PayPal by 14.9% in the first quarter. Kingsview Wealth Management LLC now owns 24,597 shares of the credit services provider’s stock valued at $1,648,000 after acquiring an additional 3,183 shares during the last quarter. M&G Plc acquired a new position in PayPal in the 1st quarter worth about $14,715,000. First Foundation Advisors bought a new position in shares of PayPal during the first quarter worth about $147,000. Pinnacle Wealth Planning Services Inc. grew its position in shares of PayPal by 10.6% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 7,634 shares of the credit services provider’s stock worth $511,000 after buying an additional 731 shares during the period. Finally, Intech Investment Management LLC increased its holdings in shares of PayPal by 315.6% during the first quarter. Intech Investment Management LLC now owns 27,872 shares of the credit services provider’s stock valued at $1,867,000 after acquiring an additional 21,166 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.