PayPal (NASDAQ:PYPL) Stock Price Down 0.8% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL) fell 0.8% during mid-day trading on Monday . The company traded as low as $85.97 and last traded at $86.42. 1,302,881 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 12,985,535 shares. The stock had previously closed at $87.13.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PYPL. Bank of America upgraded shares of PayPal from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $86.00 to $103.00 in a research report on Monday, December 9th. Wells Fargo & Company increased their price target on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Wolfe Research raised PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective on the stock in a research note on Friday, December 13th. BMO Capital Markets raised their target price on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $88.42.

PayPal Stock Down 0.5 %

The stock has a market capitalization of $86.88 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a fifty day moving average price of $84.65 and a 200 day moving average price of $73.20.

PayPal (NASDAQ:PYPL) last issued its 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. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter last year, the company earned $0.97 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Institutional Trading of PayPal

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mizuho Securities USA LLC raised its holdings in shares of PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after acquiring an additional 10,419,351 shares in the last quarter. FMR LLC raised its stake in PayPal by 86.3% in 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. World Investment Advisors LLC bought a new stake in PayPal during the third quarter valued at approximately $387,435,000. Primecap Management Co. CA grew its stake in PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after buying an additional 3,184,160 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after buying an additional 1,866,925 shares during the last quarter. 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.