PayPal (NASDAQ:PYPL) Trading Down 0.3% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price traded down 0.3% during trading on Monday . The stock traded as low as $86.00 and last traded at $88.28. 3,344,135 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 7,934,561 shares. The stock had previously closed at $88.58.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several analyst reports. Mizuho upped their target price on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, October 14th. UBS Group upped their price objective on shares of PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Macquarie lifted their target price on shares of PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Monness Crespi & Hardt increased their price target on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Canaccord Genuity Group lifted their price target on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Fourteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PayPal currently has an average rating of “Moderate Buy” and an average price target of $89.48.

PayPal Trading Up 1.0 %

The firm has a market capitalization of $89.74 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 1.49 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The company has a 50-day moving average price of $88.16 and a 200-day moving average price of $79.05.

Institutional Investors Weigh In On PayPal

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Relyea Zuckerberg Hanson LLC raised its holdings in shares of PayPal by 113.8% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after buying an additional 3,976 shares during the last quarter. World Investment Advisors LLC purchased a new stake in PayPal during the 3rd quarter valued at approximately $387,435,000. United Advisor Group LLC acquired a new stake in PayPal during the 3rd quarter worth approximately $810,000. FCG Investment Co acquired a new position in shares of PayPal in the third quarter valued at approximately $1,079,000. Finally, Equity Investment Corp raised its stake in shares of PayPal by 3.5% during the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock worth $155,927,000 after purchasing an additional 67,497 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

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.