PayPal (NASDAQ:PYPL) Shares Down 0% – What’s Next?

PayPal Holdings, Inc. (NASDAQ:PYPL) was down 0% during trading on Thursday . The company traded as low as $86.79 and last traded at $87.94. Approximately 7,397,532 shares traded hands during mid-day trading, an increase of 10% from the average daily volume of 6,732,175 shares. The stock had previously closed at $87.97.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised their price target on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Wednesday, October 30th. UBS Group boosted their target price on shares of PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Phillip Securities reaffirmed an “accumulate” rating and set a $90.00 price target (up from $80.00) on shares of PayPal in a research report on Friday, November 1st. Finally, Wells Fargo & Company boosted their price objective on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Fourteen 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.65.

PayPal Price Performance

The stock has a fifty day simple moving average of $86.34 and a 200-day simple moving average of $75.43. The company has a market capitalization of $88.16 billion, a PE ratio of 20.99, a P/E/G ratio of 1.66 and a beta of 1.44. 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 earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 earnings per share. Equities analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Hedge Funds Weigh In On PayPal

Hedge funds have recently made changes to their positions in the company. World Investment Advisors LLC purchased a new position in PayPal during the 3rd quarter worth approximately $387,435,000. United Advisor Group LLC acquired a new stake in shares of PayPal in the third quarter valued at approximately $810,000. FCG Investment Co purchased a new position in shares of PayPal during the third quarter worth approximately $1,079,000. Equity Investment Corp increased its holdings in shares of PayPal by 3.5% in the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after acquiring an additional 67,497 shares during the period. Finally, Weil Company Inc. raised its position in PayPal by 68.9% in the 3rd quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after purchasing an additional 17,003 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.