PayPal (NASDAQ:PYPL) Shares Down 1.6% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price dropped 1.6% during mid-day trading on Thursday . The company traded as low as $88.26 and last traded at $88.38. Approximately 2,056,916 shares traded hands during trading, a decline of 75% from the average daily volume of 8,247,385 shares. The stock had previously closed at $89.85.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PYPL shares. Mizuho raised their target price on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Canaccord Genuity Group lifted their target price on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Susquehanna increased their price target on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research note on Monday, January 6th. Robert W. Baird boosted their price objective on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Citigroup upped their price objective on PayPal from $94.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PayPal currently has an average rating of “Moderate Buy” and an average price target of $89.48.

PayPal Stock Down 0.7 %

The company has a market cap of $89.34 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.54 and a beta of 1.44. The company has a 50-day simple moving average of $87.76 and a 200 day simple moving average of $77.79. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. The company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.97 EPS. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 4.58 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gordian Capital Singapore Pte Ltd bought a new position in shares of PayPal during the third quarter valued at approximately $26,000. Rosenberg Matthew Hamilton raised its position in shares of PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its stake in shares of PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after buying an additional 272 shares during the period. Planning Capital Management Corp increased its position in shares of PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 268 shares during the period. Finally, Financial Management Professionals Inc. increased its holdings in shares of PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 243 shares during the period. 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.