PayPal (NASDAQ:PYPL) Shares Down 1.9% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price fell 1.9% during trading on Tuesday . The company traded as low as $89.57 and last traded at $90.04. 3,612,360 shares traded hands during trading, a decline of 55% from the average session volume of 8,021,630 shares. The stock had previously closed at $91.81.

Analyst Upgrades and Downgrades

PYPL has been the subject of a number of recent analyst reports. Piper Sandler restated a “neutral” rating and issued a $88.00 price objective on shares of PayPal in a research note on Friday, November 22nd. Barclays increased their price target on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company lifted their price objective on shares of PayPal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Canaccord Genuity Group increased their target price 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. Finally, Macquarie lifted their price target on shares of PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $89.32.

PayPal Trading Down 2.4 %

The firm’s 50-day simple moving average is $87.50 and its 200-day simple moving average is $77.20. The firm has a market capitalization of $89.79 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same period in the previous year, the business earned $0.97 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts anticipate that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Institutional Trading of PayPal

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Park Place Capital Corp increased its stake in PayPal by 6.6% in the 4th quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider’s stock worth $161,000 after acquiring an additional 116 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of PayPal by 7.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after acquiring an additional 124 shares during the last quarter. Rosenberg Matthew Hamilton boosted its stake in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares during the period. Wynn Capital LLC boosted its position in shares of PayPal by 1.1% during the fourth quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock valued at $983,000 after buying an additional 130 shares during the period. Finally, Brave Asset Management Inc. boosted its holdings in PayPal by 5.2% during the 4th quarter. Brave Asset Management Inc. now owns 2,828 shares of the credit services provider’s stock valued at $241,000 after acquiring an additional 141 shares during the period. Hedge funds and other institutional investors 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.