PayPal (NASDAQ:PYPL) Stock Price Down 0.4% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price was down 0.4% on Wednesday . The stock traded as low as $86.31 and last traded at $86.56. Approximately 1,356,271 shares were traded during trading, a decline of 90% from the average daily volume of 13,275,581 shares. The stock had previously closed at $86.94.

Analysts Set New Price Targets

Several brokerages have commented on PYPL. Argus raised PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and set a $88.00 target price on shares of PayPal in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their price objective on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. TD Cowen raised their target price on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Sanford C. Bernstein downgraded PayPal from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. Sixteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.60.

PayPal Price Performance

The company has a market cap of $86.80 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a fifty day simple moving average of $81.04 and a two-hundred day simple moving average of $70.06.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the prior year, the business earned $0.97 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PayPal

Institutional investors have recently bought and sold shares of the stock. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of PayPal during the 3rd quarter worth $26,000. Family Firm Inc. purchased a new position in PayPal in the second quarter valued at about $29,000. SYSTM Wealth Solutions LLC boosted its position in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares during the period. Tortoise Investment Management LLC boosted its position in shares of PayPal by 930.0% in the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after buying an additional 465 shares during the period. Finally, Planning Capital Management Corp lifted its position in PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 268 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

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.