PayPal (NASDAQ:PYPL) Shares Down 1.6% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL) shares traded down 1.6% during trading on Friday . The stock traded as low as $86.24 and last traded at $86.72. 1,177,505 shares changed hands during trading, a decline of 91% from the average session volume of 12,884,687 shares. The stock had previously closed at $88.14.

Wall Street Analyst Weigh In

PYPL has been the subject of a number of research reports. Barclays boosted their price objective on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Keefe, Bruyette & Woods raised their price objective on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. BMO Capital Markets raised their price target on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, UBS Group boosted their price target on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.42.

PayPal Stock Performance

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $86.56 billion, a PE ratio of 20.61, a PEG ratio of 1.66 and a beta of 1.44. The stock’s 50 day moving average price is $85.26 and its two-hundred day moving average price is $73.76.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 earnings per share. On average, equities analysts expect that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently modified their holdings of PYPL. Principal Financial Group Inc. boosted its position in PayPal by 2.1% during the third quarter. Principal Financial Group Inc. now owns 1,182,316 shares of the credit services provider’s stock worth $92,256,000 after acquiring an additional 24,193 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of PayPal during the third quarter worth $53,586,000. 1ST Source Bank boosted its holdings in shares of PayPal by 2.5% during the third quarter. 1ST Source Bank now owns 15,975 shares of the credit services provider’s stock worth $1,247,000 after purchasing an additional 391 shares during the last quarter. Copley Financial Group Inc. acquired a new position in PayPal in the third quarter valued at $249,000. Finally, Franklin Resources Inc. lifted its position in PayPal by 120.3% during the third quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider’s stock worth $125,461,000 after buying an additional 849,311 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

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.