PayPal (NASDAQ:PYPL) Trading Down 1.6% – Time to Sell?

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on PYPL shares. Canaccord Genuity Group lifted their price objective 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. BMO Capital Markets raised their price target on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Wolfe Research raised shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target for the company in a report on Friday, December 13th. Oppenheimer initiated coverage on shares of PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. Finally, Bank of America upgraded shares of PayPal from a “neutral” rating to a “buy” rating and upped their target price for the stock from $86.00 to $103.00 in a research report on Monday, December 9th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.32.

PayPal Stock Down 1.0 %

The stock’s 50 day simple moving average is $87.62 and its two-hundred day simple moving average is $77.49. The firm has a market cap of $89.21 billion, a P/E ratio of 21.22, a P/E/G ratio of 1.54 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.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. The company had revenue of $7.85 billion during 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 quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 earnings per share. As a group, research analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

Institutional investors and hedge funds have recently made changes to their positions in the company. Gordian Capital Singapore Pte Ltd purchased a new stake in PayPal in the third quarter worth approximately $26,000. Rosenberg Matthew Hamilton boosted its holdings in PayPal by 67.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its holdings in PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Planning Capital Management Corp boosted its holdings in PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 268 shares during the last quarter. Finally, Financial Management Professionals Inc. boosted its holdings in PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 243 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.