PayPal (NASDAQ:PYPL) Stock Price Down 9.2% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price fell 9.2% during mid-day trading on Tuesday . The company traded as low as $80.20 and last traded at $81.31. 21,844,809 shares traded hands during mid-day trading, an increase of 148% from the average session volume of 8,822,078 shares. The stock had previously closed at $89.51.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PYPL. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. BMO Capital Markets raised their target price on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their price target on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Mizuho raised their price target on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Macquarie raised their price target on shares of PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Fourteen 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.48.

PayPal Stock Performance

The firm’s 50-day moving average price is $88.20 and its 200 day moving average price is $79.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $78.82 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.49 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the firm posted $1.48 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.58 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PYPL. Gordian Capital Singapore Pte Ltd bought a new position in PayPal in the third quarter valued at approximately $26,000. Rosenberg Matthew Hamilton lifted its position in shares of 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 in the last quarter. Sugarloaf Wealth Management LLC lifted its position in shares of 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 in the last quarter. Planning Capital Management Corp lifted its position in shares of 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 in the last quarter. Finally, Financial Management Professionals Inc. lifted its position 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 worth $34,000 after purchasing an additional 243 shares in 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.