PayPal (NASDAQ:PYPL) Shares Down 1.8% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price dropped 1.8% during trading on Tuesday . The stock traded as low as $76.31 and last traded at $76.81. Approximately 4,496,446 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 11,166,640 shares. The stock had previously closed at $78.24.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Macquarie raised their target price on PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday. Mizuho increased their price target on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price objective on shares of PayPal in a research report on Thursday, December 12th. BMO Capital Markets increased their target price on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, Bank of America upgraded shares of PayPal from a “neutral” rating to a “buy” rating and boosted their price target for the company from $86.00 to $103.00 in a report on Monday, December 9th. Thirteen 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.52.

PayPal Trading Down 2.5 %

The firm has a market cap of $75.50 billion, a P/E ratio of 19.03, a PEG ratio of 1.29 and a beta of 1.44. The company’s 50 day moving average is $87.35 and its two-hundred day moving average is $79.93. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 EPS. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Institutional Trading of PayPal

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mizuho Securities USA LLC raised its holdings in shares of PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after buying an additional 10,419,351 shares in the last quarter. FMR LLC grew its position in PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after acquiring an additional 7,767,072 shares during the period. World Investment Advisors LLC acquired a new position in PayPal during the third quarter worth $387,435,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of PayPal by 174.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after acquiring an additional 2,689,162 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of PayPal in the 4th quarter valued at $135,537,000. 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.