PayPal (NASDAQ:PYPL) Stock Price Down 1.2% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL) fell 1.2% on Tuesday . The stock traded as low as $84.62 and last traded at $85.53. 2,328,877 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 13,182,613 shares. The stock had previously closed at $86.53.

Wall Street Analyst Weigh In

PYPL has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their price objective on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Piper Sandler reissued a “neutral” rating and set a $88.00 price target on shares of PayPal in a research report on Friday, November 22nd. Sanford C. Bernstein cut PayPal from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $75.00 to $80.00 in a research report on Thursday, October 10th. Finally, BMO Capital Markets boosted their target price on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Trading Down 1.3 %

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 stock has a market capitalization of $85.59 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 1.54 and a beta of 1.44. The stock has a 50-day moving average price of $81.87 and a two-hundred day moving average price of $70.69.

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 company had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.97 earnings per share. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its position in PayPal by 86.3% during 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 purchasing an additional 7,767,072 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in PayPal by 12,919.4% during the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after purchasing an additional 10,419,351 shares in the last quarter. Legal & General Group Plc boosted its position in shares of PayPal by 3.3% in the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after purchasing an additional 276,287 shares during the period. Clearbridge Investments LLC increased its stake in shares of PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. Finally, Primecap Management Co. CA raised its position in shares of PayPal by 21.6% during the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after purchasing an additional 1,069,356 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.