PayPal (NASDAQ:PYPL) Trading Down 2% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL) dropped 2% during mid-day trading on Friday . The company traded as low as $75.85 and last traded at $76.10. Approximately 3,800,467 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 11,134,418 shares. The stock had previously closed at $77.63.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Robert W. Baird reduced their target price on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Susquehanna boosted their target price on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a report on Monday, January 6th. Canaccord Genuity Group boosted their target price on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a report on Wednesday, February 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $100.00 target price on shares of PayPal in a report on Thursday, December 12th. Fourteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and an average price target of $90.52.

PayPal Stock Performance

The company has a market capitalization of $74.14 billion, a PE ratio of 18.69, a PEG ratio of 1.27 and a beta of 1.44. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm’s 50-day simple moving average is $85.18 and its 200-day simple moving average is $80.75.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the previous year, the company earned $1.48 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently modified their holdings of the business. Park Place Capital Corp lifted its position in shares of PayPal by 6.6% in the 4th quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider’s stock worth $161,000 after purchasing an additional 116 shares during the period. Rosenberg Matthew Hamilton lifted its position in shares of PayPal by 67.6% in the 4th 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 period. JFS Wealth Advisors LLC lifted its position in PayPal by 33.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 502 shares of the credit services provider’s stock valued at $43,000 after acquiring an additional 125 shares during the last quarter. Wynn Capital LLC lifted its position in PayPal by 1.1% during the fourth quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock valued at $983,000 after acquiring an additional 130 shares during the last quarter. Finally, Avalon Trust Co lifted its position in PayPal by 7.0% during the fourth quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider’s stock valued at $176,000 after acquiring an additional 135 shares during the last quarter. Hedge funds and other 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.