PayPal (NASDAQ:PYPL) Shares Down 1.4% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price was down 1.4% during trading on Wednesday . The company traded as low as $78.01 and last traded at $79.16. Approximately 4,952,216 shares were traded during trading, a decline of 64% from the average daily volume of 13,594,738 shares. The stock had previously closed at $80.28.

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. lifted their price target on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Wednesday. Mizuho lifted their target price on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Stephens lifted their price objective on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Seventeen research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.07.

PayPal Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $82.77 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. The company has a fifty day moving average of $76.10 and a 200-day moving average of $67.41.

PayPal (NASDAQ:PYPL) last issued 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 $1.08 by $0.12. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period in the previous year, the company posted $0.97 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PayPal

Institutional investors have recently bought and sold shares of the business. FCG Investment Co bought a new position in PayPal in the 3rd quarter valued at $1,079,000. Brown Financial Advisors bought a new position in PayPal in the 2nd quarter valued at $1,454,000. Cape Cod Five Cents Savings Bank bought a new stake in shares of PayPal during the second quarter worth $3,014,000. Distillate Capital Partners LLC raised its position in shares of PayPal by 156,934.7% during the second quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock worth $19,957,000 after acquiring an additional 343,687 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of PayPal by 44.6% during the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after acquiring an additional 381 shares during the last quarter. 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.